Source: FX Empire
Security & Justice
Israel Army Says Hit Over 100 'Terror Targets' in Lebanon in Past Day
The Israeli military on Wednesday said it struck more than 100 "terror targets" in Lebanon over the past day and had "eliminated" two Hezbollah commanders at the weekend.
Wednesday, November 20, 2024
Israeli Strikes Kill Four Lebanese Soldiers in Two Days, Army Reports
Israeli Strikes Kill Four Lebanese Soldiers in Two Days, Army Reports
Wednesday, November 20, 2024
Opinion
Flying Above the Bombs, a Lebanese Airline Becomes an Unlikely National Hero
It used to be like almost any other national carrier, fielding gripes about flight delays, ticket prices and bad food.
Wednesday, November 20, 2024
Berri's Exclusive Control Over Ceasefire Talks: A Threat to National Interests?
As U.S. envoy Amos Hochstein continues his shuttle diplomacy between Tel Aviv and Beirut, aiming to broker a ceasefire agreement between Hezbollah and Israel, Lebanese political sources are increasingly calling for transparency in the negotiations. With the possibility of a ceasefire agreement looming, many are demanding that the Lebanese public be made aware of the terms being discussed behind closed doors, especially given the high stakes for Lebanon’s future and security.
Wednesday, November 20, 2024
Sports
Alcaraz Beats Rublev to Open ATP Finals Account
Carlos Alcaraz opened his account at the ATP Finals on Wednesday with an entertaining 6-3, 7-6 (10/8) win over Andrey Rublev which boosted his hopes of reaching the semifinals.
Wednesday, November 13, 2024
Ecuador's Angulo, 22, Dies a Month After Car Crash
Ecuador international Marco Angulo has died at the age of 22 just over a month after being seriously injured in a car crash, his club has announced.
Tuesday, November 12, 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.
