20-Nov-13, 9:04am: The Dow is currently seeing resistance around 16,000 and the Nikkei is getting closer to support around 14977.
USDJPY still trading just below resistance at ¥100.50 and US crude is sitting at support at $92.85.
We could have a range of interesting moves soon.
Crude Oil Gaps Down to the Support Level
The Dow Jones closed at yet another record high on Friday but it’s the crude oil markets that are looking more interesting.
Looking at the WTI chart, the market has gapped down to the support at $92.85.
However, that level is holding for now.
The gold futures market is also looking soft.
25-Nov-13, 9:50am: The latest post on our spread betting blog takes a look at the crude oil markets in the light of Iran’s nuclear deal with the West.
Brent Crude Oil Prices Drop Sharply on Iranian Nuclear Deal
25-Nov-13, 5:56pm: This week, Hannah Slowther takes a look at the upcoming economic data which includes UK CBI retailes sales, US durable goods and German CPI readings, with several pieces of US data being moved owing to the Thanksgiving holiday.
26-Nov-13, 9:07am: |
Crude Rebounds After Iranian Sell Off
The Dow saw a doji formation yesterday but has moved back towards all-time highs.
Crude oil has seen a rebound off support at $92.85 after the previous day’s sell off.
Some oil investors are now thinking that it may take some time for Iranian oil to enter the market.
The dollar/yen pair saw something of a retracement after having an excellent November thusfar.