ℹ️ #DAX #ANALYSIS
The DAX is having a strong drop at the opening but it has also just bounced quite quickly in the important support of the 13820 area. It is clear that the loss of this support would lead to continuity in the falls. While at the top until the maximum on Friday is not exceeded there would not be a new attack on maximums. As for data, today there is the German IFO and a speech by the president of the ECB.
Crude oil’s price spike lives on.
China’s economic recovery, dropping stockpiles, OPEC production cuts, and cold weather across the north has driven the price of crude oil to its highest mark in more than two years.
And there are no signs this climb will end any time soon with more vaccines rolling out and the global economy beginning to recover from the COVID-19 pandemic.
🛢️ Crude oil’s price continues its climb thanks to China’s recovery, cold temperatures in the north, and OPEC production cuts.
This push upwards seems to have no end in sight, so what are you waiting for to trade oil now?
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When your forex trading adventure begins, you’ll likely be met with a swarm of different methods for trading. However, most trading opportunities can be easily identified with just one of four chart indicators. Once you know how to use the Moving Average, RSI, Stochastic, & MACD indicator, you’ll be well on your way to executing your trading plan like a pro. You’ll also be provided with a free reinforcement tool so that you’ll know how to identify trades using these forex indicators every day.
Traders tend to overcomplicate things when they’re starting in the forex market. This fact is unfortunate but undeniably true. Traders often feel that a complex trading strategy with many moving parts must be better when they should focus on keeping things as simple as possible. This is because a simple strategy allows for quick reactions and less stress.
If you’re just getting started, you should seek the most effective and simple strategies for identifying trades and stick with that approach.
One way to simplify your trading is through a trading plan that includes chart indicators and a few rules as to how you should use those indicators. In keeping with the idea that simple is best, there are four easy indicators you should become familiar with using one or two at a time to identify trading entry and exit points:
Once you are trading a live account a simple plan with simple rules will be your best ally.
There are many fundamental factors when determining the value of a currency relative to another currency. Many traders opt to look at the charts as a simplified way to identify trading opportunities – using forex indicators to do so.
When looking at the charts, you’ll notice two common market environments. The two environments are either ranging markets with a strong level of support and resistance or floor and ceiling the price isn’t breaking through or a trending market where the price is steadily moving higher or lower.
Using technical analysis allows you as a trader to identify range bound or trending environments and then find higher probability entries or exits based on their readings. Reading the indicators is as simple as putting them on the chart.
One of the best forex indicators for any strategy is moving average. Moving averages make it easier for traders to locate trading opportunities in the direction of the overall trend. When the market is trending up, you can use the moving average or multiple moving averages to identify the trend and the right time to buy or sell.
The moving average is a plotted line that simply measures the average price of a currency pair over a specific period of time, like the last 200 days or year of price action to understand the overall direction.
You’ll notice a trade idea was generated above only by adding a few moving averages to the chart. Identifying trade opportunities with moving averages allows you to see and trade-off of momentum by entering when the currency pair moves in the direction of the moving average and exiting when it begins to move opposite.
The Relative Strength Index or RSI is an oscillator that is simple and helpful in its application. Oscillators like the RSI help you determine when a currency is overbought or oversold, so a reversal is likely. For those who like to ‘buy low and sell high’, the RSI may be the right indicator for you.
The RSI can be used equally well in trending or ranging markets to locate better entry and exit prices. When markets have no clear direction and are ranging, you can take either buy or sell signals like you see above. When markets are trending, it becomes more obvious which direction to trade (one benefit of trend trading) and you only want to enter in the direction of the trend when the indicator is recovering from extremes.
Because the RSI is an oscillator, it is plotted with values between 0 and 100. The value of 100 is considered overbought and a reversal to the downside is likely whereas the value of 0 is considered oversold and a reversal to the upside is commonplace. If an uptrend has been discovered, you would want to identify the RSI reversing from readings below 30 or oversold before entering back in the direction of the trend.
Slow stochastics are an oscillator like the RSI that can help you locate overbought or oversold environments, likely making a reversal in price. The unique aspect of trading with the stochastic indicator is the two lines, %K and %D line to signal our entry.
Because the oscillator has the same overbought or oversold readings, you simply look for the %K line to cross above the %D line through the 20 levels to identify a solid buy signal in the direction of the trend.
Sometimes known as the king of oscillators, the MACD can be used well in trending or ranging markets due to its use of moving averages provide a visual display of changes in momentum.
After you’ve identified the market environment as either ranging or trading, there are two things you want to look for to derive signals from this indicator. First, you want to recognize the lines in relation to the zero lines which identify an upward or downward bias of the currency pair. Second, you want to identify a crossover or cross under the MACD line (Red) to the Signal line (Blue) for a buy or sell trade, respectively.
#DAX #ANALYSIS by MONEY LIFE RESEARCH!!!
Bullish opening with gap but the historical highs are again a strong resistance and it cannot with them, at least for now. Today is a holiday in the USA so the day can be a bit boring. As for data there is nothing relevant.
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CRUDE OIL, GOLD, OPEC, IEA, COMMODITIES BRIEFING – TALKING POINTS:
Crude oil ended its longest winning streak in two years overnight, after both the International Energy Agency (IEA) and Organization of the Petroleum Exporting Countries (OPEC) slashed their respective global demand outlooks. The IEA cut its forecast for oil consumption in 2021 by 200,00 barrels a day, stating that “renewed lockdowns, stringent mobility restrictions and a rather slow vaccine rollout in Europe have delayed the anticipated rebound”. OPEC also warned that global demand will rebound slower than previously thought.
However, both organizations continue to remain positive on the longer-term outlook for oil, with the IEA’s oil market division head, Toril Bosoni, stating that “we’re seeing that the outlook for the economy and oil demand in 2021 is looking brighter, despite the near-term weakness because of coronavirus”. Indeed, backwardation of the oil futures curve hints at further upside for crude prices in the coming weeks.
Oil futures curve created using Trading view
Meanwhile, gold prices fell just under 1% overnight, as better-than-expected jobless claims data appeared to diminish the argument for additional fiscal support. That being said, with House and Senate Democrats filing joint budget resolutions that will allow President Biden to pass the majority of his proposed $1.9 trillion stimulus package, gold’s downturn could prove short-lived.
The Federal Reserve’s dovish stance, and falling real rates of return, are also likely to underpin bullion. Fed Chair Jerome Powell reiterated that it is extremely unlikely that the central bank “even thinks about withdrawing policy support” in the foreseeable future. The upcoming economic docket is fairly light, with consumer sentiment out of the US a notable highlight. Fiscal aid developments will likely dictate the near-term trajectory of both commodities, with a weaker US Dollar probably limiting their respective potential downsides.
Last week, crude oil prices reached their highest point in more than a year due to decreasing global stockpiles and OPEC supply cuts.
On Wednesday, February 10th, the US Energy Information Administration (EIA) will release its weekly report on crude oil inventories, making this a great time to trade this precious commodity.
Crude oil is moving on up! Dwindling supplies & OPEC output cuts are driving oil prices to their highest point in over a year.
The US EIA will release its weekly crude oil inventories report on Wednesday, making this a great time to trade the product.
What are you waiting for? Apply Now at www.moneyliferesearch.com and get the best crude oil trading signals for making the best profits on your MT4 account.
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TOKYO (Reuters) - Oil prices edged higher on Monday after a weak start, holding on to the past three months of gains, although patchy coronavirus vaccine rollouts, new infections, and the discovery of new variants are keeping a lid on prices.
Brent crude futures were up 10 cents at $55.14 a barrel by 0233 GMT, while U.S. West Texas Intermediate (WTI) gained 1 cent to $52.21. Both benchmarks gained nearly 8% in January.
Oil prices have been boosted by vaccination programs getting underway in hard-hit countries and output cuts by major producers like Saudi Arabia. But the euphoria over a possible end to the pandemic has been undermined by the slow pace of vaccinations and the rise of new variants of the coronavirus.
Still, with more vaccines proving successful in trials and infections falling in some areas, demand for oil and fuels is likely to pick up as more of the world's population gets inoculated against COVID-19.
"Demand will recover across the board, led by Asia-Pacific and North America," FitchSolutions said in a research note.
"Europe and Latin America will lag, largely a reflection of softer economic recovery in key markets in these regions," it said.
Oil prices are expected to remain around current levels for most of this year before a recovery gains ground towards year-end, a Reuters poll showed late on Friday.
U.S. oil and gas drillers are gearing up for a pickup in demand and as higher prices make news wells profitable again, adding rigs for the sixth month in a row in January. [RIG/U]
U.S. output is rising and was above 11 million barrels per day in November for the first time since April, according to the Energy Information Administration
The world went into real uncharted territories in 2020, beginning with a pandemic no one had foreseen, and one the world had not experienced in decades. And while the following fall in the equity markets was expected, the wild surge upwards as bulls dominated — including in Bursa Malaysia — was rather not, especially with the yet-to-dissipate shadows cast by the coronavirus.
IHH Healthcare Bhd, which has operations in various parts of Asia, has been touted as a proxy for regional recovery from the Covid-19 pandemic.
Genting Malaysia Bhd
The casino operator is in the sweet spot to benefit from growing domestic tourism as borders are closed; Malaysians cannot travel abroad. Should the international borders be re-opened in 2021, Genting Malaysia Bhd (GENM) will also benefit from the arrival of foreign tourists.
Tenaga Nasional Bhd
The utility giant was the second-worst performing FBM KLCI component stock in 2020 after Genting Bhd. Its share price drifted lower even after the global rout in March while others rebounded from the troughs.
If you still believe in the great earnings growth story in the rubber glove industry despite the availability of the Covid-19 vaccine, Hartalega Holdings Bhd could be a choice to buy on strength given that the stock has sagged almost 43% from its peak of RM21.16, according to Maybank IB.
British American Tobacco (Malaysia) Bhd
British American Tobacco (Malaysia) Bhd’s (BAT) share price staged a strong rebound in the final two months of 2020, recouping most of the lost ground as it hit a 20-year low of RM8.80 in March.
Unless there is another round of Movement Control Order that requires the shutdown of non-essential businesses, including number forecast operators (NFOs), to contain the Covid-19 pandemic, Magnum Bhd is expected to be well on the earnings recovery path.
Gamuda Bhd and Sunway Construction Group Bhd (SunCon) are perceived to be among the key beneficiaries of public mega infrastructure projects such as the East Coast Rail Link (ECRL) and High-Speed Rail (HSR) line
Malaysia Airports Holdings Bhd
For the airport operator, 2020 was an annus horribilis, with the company booted from the FBM KLCI as international air travel was brought to its knees as a result of the Covid-19 pandemic
For My EG Services Bhd (MyEG), investors may have to ignore the noises and focus on contracts that it has in hand, which will be a reflection of its earnings potential
Year 2021 could be a volatile year, Mega First Corp Bhd's steady and resilient earnings from the 260MW Don Sahong hydropower project could be a shelter
We are entering a dynamic of strong intraday rises and falls which can give a lot of play. The DAX resists falling in part also because the Americans still have a certain bullish force, but as soon as this is over we will see continued falls or, on the contrary, if they resume strength, we will return to highs again. After yesterday's strong rise, today the falls with gap included in the DAX return, if the minimum of yesterday holds it will not go ahead. Regarding data, today we have the German GDP, and personal expenses and the Michigan sentiment index in the USA.
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USD Index Price Analysis: A drop to the 200-day SMA cannot be ruled out DXY breaks below the 106.00 support to clinch new multi-month lows. ...
