USOIL Tests Key Resistance, Helped by US Inventory Drop

USOIL AnalysisThe US Fed moderated the pace of tightening, raising its terminal rate projection, while lowering its GDP forecasts, now expecting an anemic growth of 0.5% in the next year . This hawkish stance by the central bank of the world’s largest consumer...

Gold’s hourly momentum positive following BoJ announcement

The daily gold chart has charted a series of higher troughs followed by higher peaks (green zig-zags). We regard this as an uptrend. The precious metal may look to chart its next daily impulse up (daily +ve impulse scenario). We consider the hourly chart. Following...

Oil shows relative strength as OPEC+ hold targets steady

The oil daily chart has moved from its weak area, between the lower blue and red bands, into its neutral zone, between the blue bands (vertical green rectangle). This activity is a relative movement towards strength. This relative strength is reflected in the hourly...

Copper Constructive after its Best Month in Over a Year

Copper Analysis The US central bank runs its most aggressive tightening cycle in decades, with a series of historically large 75 basis points rate hikes. On Wednesday Chair Powell signaled a slower pace that could come “as soon as the December meeting” ,...