Oil prices surged overnight, with WTI crude breaking back above 70 as tensions in the Middle East escalated. Iran launched a retaliatory strike on Israel in response to the recent killing of Hezbollah leader Hassan Nasrallah and an Iranian commander in Lebanon. This has fueled concerns that Israeli retaliation could target Iran’s oil infrastructure, posing […]
The post WTI surges on Middle East Conflict, but viewed as corrective move appeared first on Action Forex.
Daily Pivots: (S1) 1.3467; (P) 1.3504; (R1) 1.3526; More… USD/CAD’s recovery lost momentum after breaching 55 4H EMA (now at 1.3514). But intraday bias stays neutral first, as more consolidations could be seen above 1.3418. Read more…
Global markets are showing mixed performance as sentiment diverges across regions. In the US, stocks closed lower with traders displaying increased caution. ISM manufacturing report indicated continuation of the prolonged recession in the sector, though Read more…
Key Highlights AUD/USD faced resistance near 0.6940 and started a downside correction. A key bullish trend line is forming with support at 0.6880 on the 4-hour chart. Gold could rise again and trade toward the Read more…