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*Crude Oil rose again on Wednesday, but WTI found friction at $79.00* *TECHNICAL OUTLOOK OIL* The Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed last November to slash 2.2 million barrels per day in the first quarter, led by Saudi Arabia. Furthermore, OPEC+ is considering extending their voluntary oil output cuts into the second quarter, which could potentially tighten the market. WTI briefly tested into its highest prices since late November, etching in a daily high of $79.27 before falling back into the low end for Wednesday. WTI continues to run aground of the 200-day Simple Moving Average (SMA) at $77.67. US Crude Oil is struggling to develop further bullish momentum, but is still up around 9% from the last swing low into $72.00 in early February. *Support* -77.80/77 *Resistance* -79.20/80

*Gold price remains below a key hurdle as traders keenly await the US PCE Price Index* *TECHNICAL OUTLOOK XAUUSD* Gold is trading sideways as XAU/USD has failed to break above the $2,035 psychological resistance level for the last 12 days. Nevertheless, the upward bias remains intact, and if buyers reclaim the $2,035 level, that could open the door to challenge the psychological $2,050 figure. On the flipside, if Gold falls below the February 16 swing low of $2,016.15, XAU/USD would dive toward the October 27 daily high-turned-support at $2,009.42. *Support* - 2024/2015 *Resistance* - 2042/2050

KEY EVENTS 28/02/24

*TODAY'S KEY EVENTS*

AUD/USD edges higher as traders eye Aussie’s CPI, US GDP The Australian Dollar pared some of its losses against the US Dollar on Tuesday and finished the session with minimal gains of 0.05%. As the Asian session begins, the AUD/USD trades at 0.6542, at the time of writing, down by 0.02% as investors brace for the release of crucial data. AUD/USD Price Analysis: Technical outlook The AUD/USD remains neutral to downward bias, even though the exchange rate hovers around key technical levels, like the 100, 200, and 50-day moving averages (DMAs). Further confirmation is provided by the Relative Strength Index (RSI) punching below the 50-midline turning bearish, while the latest cycle high remains well below the current year-to-date (YTD) high at 0.6624. For a bearish continuation, the AUD/USD must dive below the February 27 low of 0.6524, and the 0.6500 figure. Once those levels are cleared, look for a test of the YTD low of 0.6442. On the flip side, if buyers push the exchange rate above the 100 and 200-DMAs at around 0.6559, that could pave the way to challenge 0.6600.

GBP/JPY hourly chart In conclusion, the daily and hourly charts show discrepancies with the daily chart indicating a continuing, though weakened, buying momentum. On the other hand, the hourly chart indicates the dominance of sellers. This divergence between the two charts signals potential upcoming volatility in the GBP/JPY pair. However, in case the pair holds above its main SMAs, the outlook will still be positive.

Good morning all

USD:- Durable Goods Orders m/m ACTUAL = -6.1% FORECAST = -4.9% PREVIOUS = 0.0% NEGATIVE FOR USD AND POSITIVE FOR GOLD ------------------------- USD:- Core Durable Goods Orders m/m ACTUAL = -0.3% FORECAST = 0.2% PREVIOUS = 0.5% NEGATIVE FOR USD AND POSITIVE FOR GOLD -------------------------

INDEX SELL NASDAQ BELOW @ 17960 ✅TP1 17910 ✅TP2 17860 🚫SL 18040

*CRYPTO SIGNAL* *BAT / USDT* *SELL SHORT ( FUTURE )* *ENTRY LEVEL :* 0.2655 *TARGET 1 :* 0.2630 *TARGET 2 :* 0.2600 *STOP LOSS :* 0.2705

✍️ World Gold Commentary February 27, 2024 - In yesterday's trading session, Gold price adjusted down from 2037 to 2025 last night. Closing the daily session with a bearish candle around the 2031 area. Yesterday I expected Gold to break out stronger, but it will probably need more accumulation to break out to the top. - At the beginning of today's trading session, we wait for Gold to fall slightly to the 202x area before it can bounce back. I will need to observe more developments today to be able to come up with a plan for this precious metal so that the SL level is as short as possible.

EUR/USD, “Euro vs US Dollar” EURUSD quotes are on the 200-day Moving Average on H4, revealing a lack of any trend. The RSI is testing the support line. As a result, in this situation, the quotes are expected to rise above 3/8 (1.0833), later reaching the resistance at 5/8 (1.0894). The scenario could be cancelled by a downward breakout of the support at 2/8 (1.0803), in which case the pair might drop to the 0/8 (1.0742) level. On M15, a breakout of the upper boundary of the VoltyChannel could increase the probability of the price increase.

Gold prices eased on Monday, hovering below the over two-week peak hit in the previous session, as fading odds of an early U.S. interest rate cut weighed on the non-yielding metal, although growing tensions in the Middle East capped further losses. "Geopolitical concerns have not dissipated and this is keeping the yellow metal very much on the radar of investors from a safe-haven standpoint," Tensions mounted in the Middle East over the weekend as Israeli troops and Palestinian gunmen clashed throughout the Gaza Strip, while mediators picked up the pace of talks on a possible ceasefire to free hostages held by Hamas. Meanwhile, markets are focused on the Federal Reserve's preferred inflation indicator - personal consumption expenditure (PCE) data - due on Thursday. Markets are currently pricing in a 71% chance of a Fed rate cut in June, according to the CME Fed Watch Tool.