Oil is set to close out 2019 with a massive price jump, lifted by geopolitical risk factors and waning US inventories.WTI crude oil is up nearly 36% year-to-date, on track for its best 12-month performance since 2016, according to data first reported by Bloomberg.American crude inventories fell to their lowest level in two months after shedding 5.47 million barrels in the week ended December 20,...
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U.S. markets settled settled lower across the board for the first time in 15 sessions despite news from White House trade adviser Peter Navarro that the U.S./ China Phase One trade deal would likely be signed next week. China's Vice-Premier Liu He has accepted an invitation to lead a delegation to the U.S. this upcoming weekend. Once here, Liu is expected to sign the phase one trade deal that was...
Continue reading >>Just weeks ago, we featured General Electric (GE) in a Chart of the Day following allegations of fraud back in August 2019. Since then, we’ve watched as the stock caught strong support around $8 along with oversold reads on the Bollinger Bands (2.20), W%R, RSI, and MACD. Since spotting that opportunity in August 2019, the stock exploded from a low of $8 to a high of $11.72. All we had to...
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