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10/06/21 10:53
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Posts
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Gold price and natural gas price consolidate, but WTI comes under fresh pressure It is a mixed start to the month for commodity prices; gold and natural gas are relatively quiet, while oil prices have fallen after an OPEC production cut failed to meet expectations. Source: Bloomberg Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 01 December 2023 12:22 Gold price rally stalls The price seems to have topped out for now, though a short-term bearish view would likely need a close back below $2000 to suggest another test of rising support. On the upside, the $2060 level remains as the key area to watch in the short-term, along with the $2075/$2080 area that has marked gold’s highs since 2020. Source: ProRealTime WTI falls after OPEC news OPEC’s production cuts were not enough, it seems to deliver a sustained bounce in oil prices. Instead, Thursday saw the price push briefly above the 200-day simple moving average (SMA), before dropping back again. This now means we wait to see if recent support around $72 could be tested, with a move below this creating a lower low. Source: ProRealTime Natural Gas holds above 200-day MA Here the price has managed to stabilise around the 200-day SMA, and a close back above 2900 might suggest a test of recent trendline resistance. If the price can claw its way back above 3000, buyers might emerge once again. Alternately, 2640 and 2540 become the next short-term targets to the downside. Source: ProRealTime
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By XTRAVAGANZA · Posted
DCA is my long term investment strategy. As for copy trading, i was using Bybit and Bitget initially but switched completely to the latter cex cos it gives me more win rates. Its prolly because they have more elite traders than the former yah. -
By XTRAVAGANZA · Posted
I would say Pele remains the undisputable Greatest Of All Time yah.
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Question
Wellieboy59
Hi everyone,
I personally think the price of oil will recover sharply over the next year and want to trade on this.
I cannot seem to work out on IG whether I should be using shares dealing (an Oil ETF) or CFD, or spread betting. It looks as though share dealing and spread betting are free of CGT, but the disadvantage of spread betting is there are only daily or quarterly expiries whereas I want to invest for longer. Is there anything else I have missed.
All advice welcome please and which oil product o trade would be helpful...also any leveraged products ?
Thanks in advance for your help.
Jezza.
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