Global Markets: Asian Stock Markets : Nikkei up 0.45%, Shanghai Composite down 0.34%, Hang Seng up 0.12%, ASX up 0.25% Commodities : Gold at $1791.18 (-0.94%), Silver at $20.91 (-0.44%), Brent Oil at $109.87 (-1.51%), WTI Oil at $107.25 (-1.27%) Rates : US 10-year yield at 2.926, UK 10-year yield at 1.774, Germany 10-year yield … Continue reading 16th May Monday : Asian markets mostly start the week lower
In commodities markets, oil prices were higher against the backdrop of a pending European Union ban on Russian oil, but were still set for their first weekly loss in three weeks, hit by concerns over inflation and China’s COVID lockdowns slowing global growth.
On the H4, with price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise to our 1st resistance at 32553 where the swing high resistance is from our 1st support at 31753 in line with the horizontal swing low support.
Crude oil prices climbed higher on Wednesday, rebounding sharply from recent losses thanks to data showing a significant drop in flows of Russian gas to Europe. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 104.082 as it continues to hold above the 103.8 level that it fell below at certain points earlier this week.
On the H4, with price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise to our 1st resistance at 32553 where the swing high resistance is from our 1st support at 31753 in line with the horizontal swing low support.
