- In Economic Calendar of today, we can expect some volatility in the USD and CHF
- At 13:30, the Census Bureau of USA will announce their Durable Goods orders
- That number measures the cost of orders received by manufactures for durable goods
- That result is forecasted to decrease to -0.8%, considering the last month was -0.2%
- At 14:00, the Swiss National Bank will publish their Quarterly Bulletin
- That report included the Monetary Policy and a statement about the Business cycle trends
- At 15:30, the Energy Information Administration of the USA, will announce the Crude Oil stocks Change
- That number measures the change in the number of barrels in stock of Crude Oil
- The result is forecasted to increase to 2.9M considering the last week was 1.954M
- American Indices (Dow Jones, Nasdaq, S&P): +10%
- UK FTSE 100: +9.05%
- DAX 30: +10.98%
- ITALIAN MIB: +8.93%
- Euro Stoxx: +9.24%
- Spanish IBEX: +7.82%
On the Charts
- The crude Oil after the sharp downward movement the previous month, reached the lowest point since 2001, at 19.46
- Price is far below from its 200 Weeks Moving Average
- The momentum Indicators are both below zero (6 and 13 periods) showing that the momentum is still bearish for the Oil
- If the price moves lower, it could find support at $16.7 price level. If the price breaks below $16.7 then the price may move lower to $10,4 a historical low price level
- Otherwise, If the price moves to the upside the coming days, it could find resistance to $35 price level, which consists a previous resistance point