Canvas looks to OPEC. Dow Jones falls 3 in 2 sessions, unemployed claims Omicron captions in focus. 

 Canvas looks to OPEC 

 

 Canvas prices are on the rise after two straight days of declines as investors look towards the OPEC decision over force policy. Still earnings are being limited by Omicron enterprises. 


 Canvas prices have declined by$ 10 per barrel since Omicron was discovered last Thursday. Fears over how contagious and the inflexibility of the new COVID variant are clouding the canvas demand outlook. So far, some trip restrictions have been assessed but it's unclear whether new lockdown restrictions will be needed. 

 

 These developments raise questions over the capability of OPEC to raise affair as planned. Should OPEC press ahead canvas prices could fall. 


 Meanwhile the Biden administration said that it could delay the planned release of strategic reserves. 

 

 Where coming for canvas prices? 


 WTI canvas is trying to rebound from64.70 the three and a partial month low reached history. Canvas trades below its 200 sma, the 20 sma also crossed below the 50 sma in a bearish signal. The RSI is teetering on oversold home so there could be some connection or indeed a move higher before farther strike. 

 

 Merchandisers will looking for a move below64.70 to open the door to61.80 the August low. 


 Buyers will be looking for a move over69.309 history’s high ahead of the 200 sma at69.80 

 

 Dow Jones falls 3 in 2 sessions, unemployed claims Omicron captions in focus 

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 The Dow Jones, along with its peers on Wall Street closed lower in the former session as the first case of Omicron was linked in the US. 

 

 Enterprises over the rapid-fire spread of the new COVID variant have unnerved investors as they stay for further information on the inflexibility of the strain. COVID cases in South Africa doubled from Tuesday to Wednesday raising fears that Omicron is more contagious than Delta. 


 Moment US futures are trying to move higher. US unemployed claims and Challenger cuts will be in focus ahead of hereafter’snon-farm payroll. Unemployed claims are anticipated to rise to 240k, from last week's 199k, the smallest position of claims since 1969! 

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 Learn further about the Dow Jones 


 Learn further about the Dow Jones 

 Where coming for the Dow Jones? 

The Dow Jones has been declining since early November. The selloff gained traction from November 25. The indicator trades below its falling trendline from this date and below its 50 & 200 sma. The 50 sma crossed below the 50 sma in a bearish signal. The RSI suggests that there could be more downside whilst it remains out of oversold home. 

 

 The Dow plant a bottom history at 33950 and is trying a rise. Buyers are looking for a rise over 34450, Tuesday’s low to negate the near- term downtrend and a move over 35000 history’s high to expose the 50 sna at 35250. 

Meanwhile merchandisers will be looking for a move below 33950 in order to pull 33510 the October low into play.