Source: FX Empire
Security & Justice
State Action Signals Change in Tackling Longstanding Illegal Land Grabs in Jbeil District
For years, the serene villages of Jbeil's highlands have been far from peaceful. Ghabat, a Maronite village nestled between the predominantly Shiite towns of Afqa and Lassa, has become a focal point of growing tensions due to territorial disputes.
Friday, December 20, 2024
Mawlawi Ensures Strict Monitoring for Wanted Syrian Regime Figures at Beirut Airport
Caretaker Minister of Interior, Bassam Mawlawi, conducted an inspection tour of Rafic Hariri International Airport in Beirut to review the security arrangements and measures implemented by the Airport Security Apparatus ahead of the holiday season.
Thursday, December 19, 2024
Opinion
Lebanon After the Assads
The United States has important equities in Lebanon, including a desire for a generally friendly government’s economic and political stability; security cooperation; long-standing relations with the large Christian community in Lebanon and Lebanese diaspora in the United States; and ultimately peace between Israel and Lebanon within a broader regional settlement. Achieving these objectives will require navigating a tumultuous period in the country’s history following a war between Hezbollah and Israel that has devastated a large part of the country, exacerbating Lebanon’s already challenging economic conditions. But perhaps the most important dynamic will be how a likely Sunni-dominated state of uncertain composition in Syria will differ in its intentions toward Lebanon from the previous Alawite-led minoritarian Assad regime.
Thursday, December 19, 2024
Europe’s Syrian Dilemma
The news of the sudden and unexpected demise of Bashar al-Assad’s regime in Syria has met a mixed response in Europe. The jubilation that a murderous dictator and close ally of Russia and Iran has fallen is not just good for the Syrian people but serves as a morale booster for Eastern Europeans wondering whether Russia can be defeated
Wednesday, December 18, 2024
Sports
Cristiano Ronaldo Unveils New Private Jet Worth $73 Million
Cristiano Ronaldo, one of the richest global athletes, has unveiled his upgraded private jet reportedly worth $73 million. With its top-notch design, exceptional speed and range of 7500 nautical miles, the Gulfstream G650 is among the fastest jets in the world.
Monday, December 16, 2024
Guardiola Accepts Man City May Need to Sign More Players to Cope with Schedule
Manchester City manager Pep Guardiola believes he will need a bigger squad to handle soccer’s ever-expanding fixture schedule.
Saturday, December 14, 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.