Crude oil prices have been struggling to break through the $80.00 resistance zone, facing hurdles even after a brief spike above this level. The 4-hour chart of XTI/USD shows a downward trend after reaching a high of $80.26, trading below $78.80 and $78.00. The price is currently testing the 100 simple moving average, signaling a
Technical Analysis
The market sentiment seems to have shifted towards growth-related macro data rather than inflation risk. This change in focus could be attributed to the fear of a US recession or a hard-landing scenario, leading investors to prioritize economic growth indicators over inflation trends. The recent softer US retail sales data may exacerbate these concerns and
The article begins with the mention of gold prices rebounding after a post-CPI selloff, which pushed the metal down to around $2438/oz. The unexpected nature of this selloff is highlighted, as US CPI figures were below expectations. This raises questions about the market dynamics and investor sentiment towards gold prices. It is important to delve