Source: FX Empire
Security & Justice
Southern Lebanon Endures Massive Damage: 40,000 Homes Leveled Across 37 Towns
Israeli forces have systematically destroyed entire neighborhoods in southern Lebanon, leveling more than 37 towns and wiping out over 40,000 residential units, according to Lebanon's National News Agency.
Tuesday, November 5, 2024
Gaps in Coastal Radar Enabled Israeli Raid in Batroun, Army Commander Says
Lebanon’s army chief, General Joseph Aoun, detailed to Caretaker Prime Minister Najib Mikati how Israeli forces likely exploited gaps in the country's coastal radar system during the recent raid carried out in Batroun. The briefing comes as Lebanese officials seek answers on how Israel’s elite Shayetet 13 unit carried out the landing undetected.
Monday, November 4, 2024
Opinion
The Emptying of Baalbek Is a Moment to Take Stock
“Large numbers of people continue to flee their homes every day, as Israel’s military operations in Lebanon have been going on unabated.” These disturbing words could be from almost any news report about Israel’s invasion of its northern neighbour over the past month. However, they can be found in a report by the Norwegian Refugee Council’s Internal Displacement Monitoring Centre issued on July 27, 2006.
Saturday, November 2, 2024
A Future Without Hezbollah
At the end of September, when Israel’s campaign to destroy Hezbollah was reaching its height, I met one of the group’s supporters in a seaside café in western Beirut. He was a middle-aged man with a thin white beard and the spent look of someone who had not slept for days. He was an academic of sorts, not a fighter, but his ties to Hezbollah were deep and long-standing.
Thursday, October 31, 2024
Sports
FC Barcelona Fears First Team Star Will Be Banned From Playing, Reports SPORT
FC Barcelona is concerned that one of its main first-team stars will be banned from playing at the turn of 2025 because of issues related to his registration and Financial Fair Play (FFP) limits according to SPORT, which cited anonymous sources.
Friday, November 1, 2024
Tottenham Forward Son Heung-min Crowned Asia’s International Player of the Year
Tottenham forward Son Heung-min was crowned as Asia’s International Player of the Year for the fourth time by the Asian Football Confederation at its annual awards ceremony Tuesday.
Wednesday, October 30, 2024
Monday 26 February 2024 09:49:32
Natural Gas and Oil Analysis: NG Rallies Over 5%; Stronger Dollar Weighs on Oil
Oil Dips as Strong Dollar and Rate Cut Speculations Weigh on Market
Oil prices saw a decline on Monday, continuing from the previous session’s drop as the dollar strengthened due to concerns that persistently high U.S. inflation might postpone anticipated cuts in U.S. interest rates. This fall in prices adds to the previous week’s downturn, driven by the likelihood of delayed U.S. rate cuts.
The stronger dollar, which makes oil more expensive for non-dollar currency holders, and a mix of geopolitical tensions and fluctuating demand forecasts, particularly from China, influenced the market.
Goldman Sachs has adjusted its peak summer price projection for Brent upwards, expecting a demand growth, notably from the U.S. and India, balanced against robust non-OPEC supply growth.
Meanwhile, geopolitical tensions and negotiations in the Middle East continue, with potential impacts on energy supplies and prices.
Natural Gas (NG) experienced a notable surge, climbing 5.65% to $1.7760 in today’s 4-hour trading session. This movement places NG above its pivot point at $1.7333, indicating bullish momentum. Resistance levels are identified at $1.8060, $1.8661, and $1.9291, marking potential targets for upward movement.
Conversely, support levels are established at $1.6802, followed by $1.6117 and $1.5264, which could offer stabilization in case of a retracement. The 50-day Exponential Moving Average (EMA) at $2.1770 and a much lower 200-day EMA at $0.54880 underscore the volatility and upward potential in NG prices.
The overall trend appears bullish above the $1.7333 mark, suggesting a continuation of the upward trajectory if this level holds.
Resistance levels are set at $77.56, $78.89, and $80.10, indicating potential hurdles for upward movements. Conversely, support is found at $75.50, with further floors at $74.55 and $74.19, which could stabilize any declines. The 50-day Exponential Moving Average (EMA) at $77.22 and a notable 200-day EMA provide context for the current price action.
A breakout below the $76.50 level could signal a bearish trend, hinting at further declines if sustained. The technical outlook suggests a cautious approach, with a bearish sentiment prevailing below the pivot point of $76.49.
In today’s market review, UK OIL recorded a modest decline, trading at $81.30, reflecting a 0.44% decrease. The commodity’s movements within the four-hour chart frame have placed it just below the pivot point of $81.93.
Looking ahead, traders are eyeing resistance levels at $82.82, $83.86, and $85.18, which could cap potential rallies. Conversely, support is established at $80.67, with further downside protections at $79.63 and $78.59, suggesting a cushion for any extended drops.
The 50-day Exponential Moving Average (EMA) at $82.35 and the 200-day EMA at $80.91 indicate a narrow trading band. The technical outlook suggests a bearish trend if prices remain below the pivot point of $81.93, urging investors to watch this level closely for signs of direction.
For a look at all of today’s economic events, check out our economic calendar.
