Morning Insights 15th January

Razvan Mihai


Instrument: OIL

Intraday: Bullish

Technical Analysis

Preference:  Buy position is envisaged if price trades above 64.63 with take profit at 67.56 .

Alternative scenario: Sell position is envisaged if price trades above 63.44  with take profit at 61.33 .


Crude Oil Inventories (USD) 4.00 pm

Comment: Oil prices have seen rapid decline as crude oil stockpiles increases and investors fear that despite US-SINO phase 1 deal being successful, they expect that may not be enough to boost demand. Crude Oil data expected from the US later today has a lower forecast boosting optimism of a lower inventory which is expected to boost oil prices today. 

Instrument: GBPUSD

Intraday: Bearish

Technical Analysis

Preference:  Sell position is envisaged if price trades below 1.30101 with take profit at 1.29919

Alternative: Buy position is envisaged  if price trades above 1.30190 with take profit at 1.30350


CPI (GBP) 10:30am

Comment: The pair is envisaged to retrace off the key resistance region around 1.3040 pending the release of the annualized inflation figures from the UK.

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