WTI Bullish: Ongoing Middle East Conflict Continues to Influence

Andrew Fischer · 21 Nov 6.7K Views


Technical Analysis

Continuation Bullish / Rise

Demand Level: 1975.29 - 1978.16

The prediction for gold indicates a considerable upward trend and represents an opportunity for gold investors. This suggests that signs of weakness in the USD will likely decrease in the long term, prompting investors to shift towards the safe haven asset of gold. The increase in gold's value is also influenced by the Fed's anticipated stance, indicating that monetary policy will hinge on inflation and that interest rates will be held as necessary. The upward trend is supported by the overall trend and also by candlestick support


Technical Analysis

Bullish Trend/Upward Movement

Demand Level: 77.53 – 77.91

Predictions for the movement in Oil are indicating an upward trend, which might result in an increase in prices. This anticipated rise in oil prices is triggered by expectations of OPEC+ and Russia announcing additional crude oil production cuts in the upcoming November 26 meeting. This could strengthen the scarcity of oil supply, coupled with ongoing tensions in the Middle East, which remain unresolved.



Technical Analysis

Continued Bearish Trend

Supply Levels: 148.552 - 148.383

The prediction for a decline in the USD remains dominant, especially with the upcoming news release of the 'FOMC Meeting' expected on early Wednesday (22/11), which is anticipated to hold interest rates and potentially significantly weaken the USD. Additionally, the strengthening of the yen due to the second waste disposal is expected to lead to an increase in scarcity and prices of necessities, thus pushing the yen higher. This increase in yen is predicted to persist in the long term.

The overall trend supports the downward pattern for the USD and the strengthening of the yen, and this opportunity is being seized by some investors favoring the yen's strength.



Technical Analysis

Continuation Bullish / Upward Trend

Demand Levels: 1.24562 - 1.24804

The prediction for the pound sterling tends to align with the previous forecast, indicating a pattern of upward movement or a continuation with a higher inclination. This suggests that the USD is likely to continue declining sharply, presenting an opportunity for the pound sterling to continue its upward trajectory. Early tomorrow morning, there will be the release of the 'FOMC meeting' news, which is predicted to show a tendency towards weakening as The Fed is expected to hold interest rates. This ascent could cause the pound sterling to experience inflation against the weakening USD, thereby not ruling out the need for an upward trend.


Technical Analysis

Bullish Continuation / Upward

Demand Level: 17,500 - 17,674

The prediction for the Hang Seng index tends toward an upward trend, indicating a significant inclination toward a notable increase. This aligns with the previous day's forecast, suggesting that the Hang Seng Index is likely to continue strengthening over the long term. Most of the Asian stock markets are also showing an upward trend, including the Hang Seng, presenting a favorable opportunity for the Hang Seng Index in the long run.

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