This crude price chart shows clear signs of optimism in the near term. Look at the recent breakout from a stubborn resistance mark. It seems the bulls have enough strength to display more upward moves in the coming days.
So, let’s jump to the point and try to find out what’s driving the crude bulls right now, one by one.
Let’s get started:
The US-Iran Conflicts
Escalating tensions in the Middle East remain the top driver for the recent crude price optimism.
The crude value has flared-up to a significant extent over US-Iran tensions. Both counterparties have been at loggerheads for quite a long time. Now, with the recent killing of the Iranian military commander Qassem Soleimani, the fire between the duo got further intensified.
Soleimani was Iran’s second-most powerful figure and has helped Iran fight proxy wars against the rivals. On Jan. 3, Soleimani was killed in a US airstrike attack at Baghdad airport.
Soon after his death, Iran retaliated. And, as per Tehran-based Tasnim News agency, Iran has right now started the “second round” of attacks on US bases in Iraq.
Amid such disturbing environment in the Middle East, crude prices have gone up.
West Asian conflicts continue to exert great influence on crude oil prices. Rightly or wrongly.
Economists Think Dollar's Fall May Explain the Recent ‘Rally’ by Steve Liesman
Einstein taught us about relativity in nature. Now come Devina Mehra and Shankar Sharma of First Global to teach us about relativity in financial markets -- and raise some serious questions about just what is driving stock prices.
First Global reports are quite credible and, on occasion, more than that.
What prompts this mention is Intel's earnings report and the fact that First Global has had a pretty good bead on the company and its stock.
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Baidu Inc., the operator of China’s most-used Internet search engine, rose to the highest price in two weeks after First Global rated the shares “outperform? in new coverage.
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"It's better to take a slight hit on [profit] margins and keep on moving and inventing," says First Global Securities. And at least for now, Target is inventing in a way that appeals to consumers with money to spend.
Dead Batteries
At 11 times trailing earnings, Energizer is cheaper; Gillette's multiple is 25. But cheaper doesn't mean better, says First Global.
Bipinchandra Dugam @bipinchandra90
@devinamehra @firtglobalsec
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@firstglobalsec @devinamehra
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