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4 May 2023

WTI Price Analysis: Bulls flip the script, run up to the 61.8% Fibonacci retracement

  • WTI bulls move back in with vigor as bears throw in their towels.
  • WTI rallies hard from the lows right up to a 61.8% Fibo. 

Crude oil, WTI, bulls have stampeded the bears back to a 61.8% Fibonacci retracement in what has been a highly volatile period over these past weeks. The price has dropped from the OPEC production cut highs of around $83.50bbls to a low of $63.61bbls. 

WTI H4 chart

In Asia today, we have seen a very strong comeback as follows:

 

May 4, 2023

GBP/USD Price Analysis: Cable buyers run out of steam below 1.2595 hurdle

GBP/USD bulls take a breather around 1.2580, after rising to the highest levels since June 2021 early Thursday. That said, the Cable pair initially ch
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May 4, 2023

Australia Imports (MoM) increased to 2% in March from previous -9%

Australia Imports (MoM) increased to 2% in March from previous -9%
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