The price of gold reached a new low yesterday, temporarily probing below the 61.8 per cent Fibonacci retracement level at 1690 before retracing back up. While this behaviour undoubtedly demonstrates the strength of the underlying downtrend, there are also many reasons to anticipate a reality check for the retreating commodity around the current market price. [...]

Crude oil opened this week's trading session by nearing a price tag of 68.00 dollars per barrel before retracing back to 66.30. The jump was caused by fears of escalating tensions in the gulf, underpinned by the raging war between Saudi Arabia and the Iran-backed Houthi rebels. The Saudi Energy Ministry reported that a drone strike targeted an oil storage tank on Sunday, stirring temporary panic over potential [...]

The precious commodity finds itself in a solid bearish market at present, which is owing to the heightened demand for riskier assets amongst global investors. The latter stems from the fact that U.S. yields remain at historically low levels due to FED's massively accommodative monetary policy stance. The high energy prices currently represent another contributing factor. [...]

Temperatures dropped drastically last week across the U.S. and Western Europe, prompting a marked upsurge in energy demand. Record lows were reached in many states as the coldest weather in over 30 years continues to grip the U.S, with more than 150 million people remaining under a weather alert. The severe temperatures have caused a sudden jump in energy consumption across the most affected states, causing [...]

Crude oil's price finally recovered fully the losses incurred in the wake of the coronavirus crisis by reaching its pre-crash levels. This happened after the commodity managed to break the psychological 50.00 dollars per barrel threshold. Now there is a new challenge for the rallying energy market. [...]

The price of gold has been consolidating within a narrow range around the psychologically significant support level at the 38.2 per cent Fibonacci retracement since the expectations of our last analysis of the commodity were fulfilled. The reason for the temporary pause in the development of the recent downtrend is the FOMC meeting, which is scheduled to take place later today. [...]

OPEC's tremendous efforts to stabilise the energy market in the wake of last year's crash, when at one point oil futures were trading below zero dollars per barrel, are starting to pay off. Officials of the organisation had previously stated that members have to join efforts to recalibrate the jolted supply and demand equilibrium; something that they appear to be on track to achieve. [...]

Markets are open and enthusiastic traders are returning from their Christmas holidays in a good mood, which is poised to affect gold's slumber from the last couple of weeks. The precious commodity, as was anticipated, was mostly trading in a narrow range over set period owing to the low levels of market liquidity. However, this is about to change as trading activity returns to normal. [...]

The precious commodity has had a very rough several weeks, tumbling nearly 200 dollars per troy ounce in the wake of the recent vaccine optimism. The reinvigorated investors and traders' enthusiasm catalysed the major selloff, as the global demand for safe-havens and other low-risk securities plummeted. The market is currently riding high on the expectations for a sharp rebound in global economic activity in [...]

All of you movie buffs out there probably immediately understood the reference in the title to the movie "There will be blood". Without getting into too much film trivia here, the story revolves around the early days of the crude oil industry, and today's analysis focuses on the latest developments concerning the price of crude oil futures. [...]