Search
Popular Search

* Demand Doldrums: Oil prices extended its decline following indications of sluggish fuel demand, coupled with remarks from U.S. Federal Reserve officials that tempered expectations of interest rate reductions. This potential lack of rate cuts could impede economic growth and limit fuel demand in the world’s largest economy. Analysts predict that the Federal Reserve will maintain its current policy rate for an extended period, bolstering the strength of the dollar. A stronger dollar increases the cost of dollar-denominated oil for investors using other currencies. Additionally, oil prices declined because of weak demand signals. This was evidenced by the increase in U.S. gasoline and distillate inventories leading up to the commencement of the U.S. driving season. Refiners globally are grappling with reduced profits for diesel due to heightened supplies from new refineries and subdued demand resulting from mild weather in the northern hemisphere and sluggish economic activity.
* Technical Breakout: Crude oil price was traded lower while currently testing the support level 77.90. MACD which illustrate bearish momentum signal with the formation of death cross suggest the commodity to extend its losses after it breaks below the support level.
* Resistance and Support: If the bearish momentum persists, there’s a strong likelihood that the price will potentially head towards 75.95 after it breach below the level 77.90. Conversely, a potential correction is also to be expected and the price could head back towards the level 80.80.
Understand how technical analysis can help you in this trading opportunity.
Moving ahead, investors will remain attentive to economic indicators, particularly from the U.S and the ongoing tension in the Middle East, which could potentially influence the supply and demand dynamics of crude oil. Despite efforts, a cease-fire agreement between Israel and Hamas has yet to be reached. Additionally, there’s been a statement from U.S. President Joe Biden suggesting the suspension of weapons shipments to Israel if a significant assault on the southern Gaza city of Rafah occurs.
Know how to manage trading risks with risk management strategies.
Stay updated on US data, Fed updates and any shifts in the US Dollar’s strength by following PU Prime’s market insights and daily financial news.
Grab the trading opportunity and dive into the action risk-free with a free demo account. It is the perfect way to hone your skills and explore the exciting world of trading!
Open Your Free Demo Account And Start Trading Risk-Free
Join Now
Disclaimer: Trading derivatives involves high risks, and market conditions can change rapidly. The content is for informational purposes only and should not be considered as financial advice. Traders should conduct their own research and consider risk management strategies.
Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.
Sign up for a PU Prime Live Account with our hassle-free process.
Effortlessly fund your account with a wide range of channels and accepted currencies.
Access hundreds of instruments under market-leading trading conditions.
Important Notice to Visitors
Our products and services are not offered or made available to residents of your jurisdiction. The information on this Website is not directed at persons in your jurisdiction and is not intended as an offer, solicitation, or promotion of our products or services to them.
By clicking “I Understand”, you acknowledge this notice and confirm that you are accessing this Website at your own initiative. Access to this Website does not mean that our products or services are available to you.
Important Notice
Please be advised that our products and services are currently unavailable to residents and entities located in the Philippines.
This restriction is a result of our firm commitment to adhering to applicable legal and regulatory requirements in all jurisdictions where we operate. In line with our internal compliance protocols and evolving global standards, we continuously assess and update access to our platform to ensure full regulatory alignment.
We appreciate your understanding and cooperation.
If you believe this restriction has been applied in error, please contact our support team for further assistance.
Dear Valued Client,
As part of PU Prime’s ongoing commitment to providing a stable and reliable trading environment, please be informed of the following weekly weekend scheduled optimisation activities:
We sincerely apologise for any inconvenience this may cause as we strive to provide you with better service. PU Prime is committed to providing you with the best trading experience and this Weekly Scheduled Optimisation Notice will enable us to ensure that you trade without any unexpected interruptions.
For other upgrades that may involve longer disruptions to your trading, we will announce them ahead of time in a separate announcement.
Important Notice:
Important Notice: Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.
Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.
By clicking the "Acknowledge" button, you confirm that you are entering this website solely on your own initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on a reverse solicitation basis in accordance with the laws of your home jurisdiction.
Important Notice:
Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.
Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.
By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.
Aviso importante:
Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.
Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.
Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.