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Oil drops as OPEC increases production

News of the day, Friday, June 3

European stock indices opened higher today: the DAX traded 0.3% higher, Euro Stoxx 50 increased 0.25%, and the CAC40 added 0.2%.

Oil drops as OPEC+ announced to increase production soon. Today, WTI crude traded 1.15% down, and Brent crude dipped 1.05%.

As Chinese …

Gold analysis

Gold managed to break several levels of resistance yesterday, as it breached the level of 1855.0, then the level of 1860.00, and reached the target 1870.00. Therefore, gold activates the bullish scenario to reach the level of 1890.00. in the medium term.

The moving averages support the price to complete …

GBP/USD currency pair analysis

The price of the pound sterling against the dollar rose and paused at the resistance level  1.2590, which the price has been trying to breach since yesterday.

We notice that the stochastic indicator is giving a negative signal, as it forms a crossover between its lines above the 80 level, …

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