"A mysterious even happened as markets opened in 2016. Oil rose. Nevertheless, before lunch would ring in London on January 4, the first trading day of 2016 Crude fell.""There was a confluence of resistance at the $38/bb zone that saw Crude post a bearish Shooting Star formation. However, the most notable part of that zone of resistance is that the zone includes the August 24 closing low. When past support acts as new resistance that can be a prelude ...
The Bank of Canada is expected to keep rates unchanged. Yet the pair has pushed higher with the overall US dollar bullishness in trading over the last couple weeks. The price stalled right near the 61.8% of the move down from the 2015 high to the 2015 low at the 1.24845 level The 50% and the 100 day MA come in at the 1.2371-76 area. This will be a key level. Before that key level, there is another interim support level. ...
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