Oil Trades Higher as Saudi, Russian Supply Cuts Extend Until Year End

Brent Crude, WTI Oil News and Analysis Announcement of extended production cuts reignites bullish momentum Bullish catalyst attracts lofty price targets for Brent and WTI Overheating concerns appear with the RSI entering overbought territory The analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our

NVDA trades lower Friday despite stock-cheering Nonfarm Payrolls

Share: Nonfarm Payrolls for August provided data showing Fed may not require more hikes. NVDA stock has been forming Japanese candlestick doji patterns late this week that demonstrate uncertainty among bulls. Intel’s Gaudi 2 chip is being called a competitor to Nvidia’s H100. Samsung signs deal to begin supply high bandwidth memory chips

Risk trades storm back as the volatility continues

Today’s trading has been a journey as the market tries to sort out the economy and the bond market. Treasury yields are still higher on the day but have been reeled in from earlier levels. US 10-year yields are up just 0.2 bps on the day to 4.23% from a high of 4.28% after Powell.

S&P index trades above and below unchanged today

The S&P index is trading back in positive territory after giving up earlier gains of 25.88 points and moving into negative territory by -9.42 points. Technically, the low price from Friday stalled within a swing area between 4325 and 4338, and rebounded modestly into the close. In trading today, the price opened and moved higher

Risk trades bounce after US consumer sentiment data

The market is showing high sensitivity to anything touching inflation at the moment. The University of Michigan’s consumer sentiment survey was slightly stronger at 71.2 compared to 71.0 expected but the market may be cheering the improvement in inflation expectations, as the one-year metric fell to 3.3% from 3.4% and the 5-year metric to 2.9%