2024.10.18 2024.10.18 WTI Crude Oil: Elliott wave analysis and forecast for 18.10.24 – 25.10.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider short positions from corrections below the level of 75.67 with a target of 61.50 – 53.60. A sell signal: if the price holds below 75.67. Stop Loss: above 76.00, Take…
The major indices are closing higher for the day with the Nasdaq leading the way. The Dow and the S&P are also higher. The small cap Russell 2000 is closing lower but is higher on the week. The final numbers are showing: Dow Industrial Average rose 36.86 points or 0.09% at 43275.91 S&P rose 23.20 points or 0.40% at…
Both OPEC and the IEA revised their oil demand forecasts downwards again this week, Commerzbank commodity analyst Carsten Fritsch notes. Oil market to face a significant oversupply next year “OPEC now expects an increase of 1.9 million barrels per day this year and 1.7 million barrels per day next year. That is 100,000 barrels per day less than the…
2024.10.18 2024.10.18 Gravestone Doji: How to Trade This Candlestick Pattern Alan Tsagaraevhttps://www.litefinance.org/blog/authors/alan-tsagaraev/ In the modern world of trading and investing, it has become common to rely on technical indicators and trading robots, bypassing conventional chart and candlestick patterns. Many novice traders underestimate the signals given by Japanese candlesticks or large patterns on price charts. Notably, these signals are crucial…
Oil rigs +1 Natural gas rigs -2 The economic momentum and optimism has left the oil market behind. It’s 2025 budget-setting season right now though and I’d imagine capital discipline will be the theme next year so that may start to help. The worries are OPEC and China though. WTI was last down $1 to $69.71. This article was…
Micron Technology, Inc. (MU) designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho. MU weekly chart March 2023 As we see in the chart above,…
2024.10.18 2024.10.18 XAU/USD: Elliott wave analysis and forecast for 18.10.24 – 25.10.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider long positions from corrections above the level of 2601.27 with a target of 2800.00 – 3000.00. A buy signal: if the price holds above 2601.27. Stop Loss: below 2590.00, Take Profit: 2800.00…
To trade or not to trade? Trading from home and having more time to watch the charts and market headlines doesn’t necessarily mean you have to take more setups. For most traders, even seasoned professionals, this is easier said than done. After all, forex price action can often be fast-paced and exciting, and the idea of missing out on…
Pell Network, an Omnichain Decentralized Validation Services (DVS) network, has successfully raised $3 million in pre-seed funding, as announced on October 16, 2024. This round was co-led by Paper Ventures, Halo Capital, and Mirana Ventures. Incubator D11-Labs and key investor Delta Blockchain Fund, also participated in this round, along with a diverse group of investors including ArkStream Capital, Mantle…
The US Dollar fades a touch on Friday after a steep ride higher. Traders see China stepping up measures with deposit rate cuts and more stimulus details. The US Dollar Index rally looks to be halting for now, ahead of 104.00. The US Dollar (USD) turns flat to a touch softer on Friday with some profit-taking after steep rallies…