The Pound Sterling rose for the first time in five weeks against the US Dollar.
GBP/USD looks to US inflation and UK GDP data for the next push higher.
Another Bear Cross on the daily chart could keep Pound Sterling sellers alive.
The Pound Sterling (GBP) staged a comeback versus the US Dollar (USD), lifting the GBP/USD pair from the lowest level in three months near 1.2835.
Pound Sterling tested 1.3000 yet again
GBP/USD returned to positive territory for the first time in five weeks, as the global market optimism and the central banks’ policy announcements overshadowed the resurgent demand for the US Dollar.
The Pound Sterling built on its recovery momentum in the early part of the week, as risk flows prevailed on hopes of Republican candidate Donald Trump’s victory in the US presidential race due on Tuesday. Additionally, profit-taking on the USD long positions ahead of the US election also helped the British Pound gain some positive traction, driving the pair back above the 1.3000 level.
However, sellers quickly returned on Wednesday after Trump decisively won the US presidential race and triggered a massive upswing in the US Dollar against its major rivals. Even though risk traders returned, the USD gains outweighed and smashed GBP/USD to the three-month lows of 1.2834, nearly 150 pips down on that day.
Pound Sterling fought back control on Thursday in the lead-up to the BoE and US Federal Reserve (Fed) interest rate decisions, as the traders resorted to position readjustments in the lead-up to the central banks’ event risk.
Buyers received a fresh boost after the BoE reduced the benchmark policy rate by 25 basis points (bps) to 4.75% from 5.0%, as expected but the Monetary Policy Committee (MPC) voted 8-1 in favor of a cut against expectations of a 7-2 voting composition. Further, Governor Andrew Bailey maintained a cautious stance on the future interest rate outlook in the post-policy meeting press conference.
Bailey noted, “we need to make sure inflation stays close to target, so we can’t cut interest rates too quickly or by too much.” He added that “we will need to see more on how the budget affects inflation. I do not think it is right to conclude that the path of interest rates will be very different due to budget.”
Later in the American session on Thursday, the US central bank cut the fed funds rate by 25 bps to a range of 4.50% to 4.75%, as fully priced in. The Greenback bounced slightly in a knee-jerk reaction to the Fed’s rate decision, which was quickly reversed on Chairman Powell’s press conference. Powell noted that the Fed remains on a gradual easing path and that the election won’t have any near-term effect on the policy decision. He further added that he will not quit even if asked by Trump.
In the Fed’s aftermath, the US Dollar resumed its corrective decline, allowing the major to retest the 1.3000 level. On Friday, the pair consolidated the weekly gains, as the Greenback paused its downside momentum, supported by the cautious market mood heading into the weekend.
Focus shifts back to growth and inflation data
With the central banks’ bonanza week out of the way, the top-tier economic data releases from both sides of the Atlantic grab attention.
It’s a holiday-shortened week though, as US markets are closed on Monday in observance of Veterans Day. On Tuesday, the labor market data from the UK will stand out amid a data-quiet US calendar. However, speeches from several Fed policymakers will keep traders entertained in American trading that day.
Wednesday will feature the all-important US Consumer Price Index (CPI) data, which will be followed by more Fedspeak.
The preliminary and the monthly Gross Domestic Product (GDP) readings from the UK will be in the spotlight on Thursday. Meanwhile, the US Producer Price Index (PPI) will be published alongside the weekly Jobless Claims data later that day.
Fed Chair Jerome Powell’s appearance in a panel discussion, titled “Global Perspectives” at an event hosted by the Federal Reserve Bank of Dallas, will be also eagerly awaited.
The UK and US Retail Sales data will fill in an otherwise light economic calendar on Friday.
GBP/USD: Technical Outlook
The daily technical setup for the GBP/USD pair indicates that sellers are not yet ready to give up, despite the recovery attempt.
The 200-day Simple Moving Average (SMA) at 1.2816 continued to guard the downside but the double Bear Crosses and a bearish 14-day Relative Strength Index (RSI) remained a looming threat for buyers heading into a new week. The RSI indicator holds slightly below the 50 level.
The 21-day SMA crossed the 50-day SMA from above on a daily closing basis on October 23, Meanwhile, the 21-day SMA and 100-day SMA bearish crossover occurred on Thursday, adding credence to the downside potential.
Therefore, a daily candlestick closing below the 200-day SMA at 1.2816 is critical to initiating a fresh downtrend for the Pound Sterling.
The next bearish target is seen at the 1.2750 psychological barrier, below which a test of the August 8 low of 1.2665 cannot be ruled out.
On the flip side, a sustained recovery is possible only on a firm break above the confluence of the 21-day SMA and the 100-day SMA near the 1.2990 region.
Solana (SOL) price, a Layer 1 blockchain, has recently demonstrated significant upward momentum in the cryptocurrency market. Since the beginning of November, SOL’s price has surged by 21%, breaking a five-month high amid strengthening bullish sentiment.
This impressive rally follows a broader market rebound, positioning Solana for a potential breakout as consolidation patterns appear. Analysts suggest promising opportunities, with some eyeing a possible move toward $800 if the bullish trend continues.
Can Solana Price Hit $800 After This Recent Rally?
The crypto expert tweeted a bullish projection for the Solana price that has caught the crypto community’s attention. According to the tweet, Solana’s value could see substantial gains in 2024, following an already impressive performance in 2023.
In 2023, Solana’s price rose from $25 to $260, demonstrating strong market momentum. For 2024, Analyst predicts an even more dramatic surge, with SOL potentially climbing from $125 to an impressive $800. This optimistic outlook aligns with charts showing historical trends and anticipated growth patterns, suggesting a continuation of Solana’s upward trajectory.
The Solana price is hovering above $200, marking a significant milestone as SOL reclaims this level for the first time since April. At the time of writing, the SOL price is trading at $201.85, surging by more than 8% in the past 24 hours. This strong upward trend reflects growing investor confidence in SOL, with prices reaching an intraday low of $186 and peaking at $201.
The crypto market has surged to new heights, with Bitcoin reaching an all-time high above $76,000. This historic milestone reflects strong investor enthusiasm and robust demand across major digital assets. Ethereum has also experienced notable gains, surpassing the $2,900 mark as investor interest grows.
Will SOL Price Hit ATH This Weekend?
With the current bullish trend, if the Solana price prediction continues its upward momentum, it could approach new ATH highs in the coming weeks. Should this momentum be sustained, analysts speculate SOL might aim for its all-time high of around $260.
The MACD indicator also supports the positive momentum, with the MACD line crossing above the signal line, signaling a potential continued upward trend. The histogram has shifted to green, further hinting at possible bullish strength.
According to Coinglass, the Solana price market has experienced a notable uptick in trading volume and open interest, highlighting increased investor activity and confidence. This surge in volume suggests a higher level of engagement among traders, possibly reflecting a shift in market sentiment toward SOL.
Solana shows strong upward momentum, breaking a five-month high. Analysts predict potential gains, reaching $800. Growing investor confidence fuels SOL’s current rally, with price hovering above $200. The technical indicator suggests continued bullish momentum, indicating sustained investor interest and increased trading activity.
Frequently Asked Questions (FAQs)
Solana’s price is rising due to strong bullish momentum, increased trading volume, and growing investor confidence.
Solana’s price has surged by 21% in November 2023, breaking a five-month high.
Some analysts suggest that Solana could reach $800 in 2024 if the bullish momentum continues and market conditions remain favorable.
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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Silver price retreats from $32.30 as investors expect Trump’s protectionist policies could force the Fed to turn hawkish on interest rates.
Fed Powell doesn’t see any near-term impact of Trump’s policies on the interest rate path.
China’s economic package failed to impress market participants.
Silver price (XAG/USD) resumes its downside move after its recovery move met resistance near $32.20 in the North American session on Friday. The white metal falls back as traders assess the implications of Donald Trump’s victory in the United States (US) presidential elections on domestic and the global economy.
Donald Trump promised to raise tariffs by 10% universally, expecting China that could face duties rising as much as 60%. Higher tariffs on offering coming from the external economy would boost in house production and prompt labor demand, which will prompt inflationary pressures. This will force the Federal Reserve (Fed) to opt for a hawkish interest rate stance.
However, Fed Chair Jerome Powell doesn’t see any immediate impact of Trump’s victory on the monetary policy action in the upcoming meetings after the bank cut interest rates by 25 basis points (bps) to 4.50%-4.75% on Thursday.
Meanwhile, some recovery in the US Dollar after Thursday’s correction has also weighed on the Silver price. The US Dollar Index (DXY), which gauges Greenback’s value against six major currencies, jumps to nearly 106.40.
Apart from expectations for the Fed turning hawkish, an absence of meaningful economic stimulus by China has also weighed on the Silver price. In Friday’s late Asian session, China announced a massive 10 trillion yuan program to refinance local government debt with approval by the National People’s Congress. Market experts see the stimulus package as a measure against Trump’s potential tariffs, however, they consider it as insufficient to fix the likely impact on their economic growth.
Economists at Standard Chartered Plc expect “China’s growth would suffer a hit of as much as two percentage points should Trump follow through on his campaign vow to raise tariffs on Chinese goods to 60%.”
Silver as a metal has applications in various industries such as solar energy, mining, and power and signs of weak China growth prospects impact the Silver price.
Silver technical analysis
Silver price slides to near $31.00 after breaking below the horizontal support plotted from the May 21 high of $32.50. The near-term trend of the Silver price has turned bearish as it has dropped below the 50-day Exponential Moving Average (EMA), which trades around $31.60.
The asset could find support near the upward-sloping trendline around $29.00, plotted from the February 28 low of $22.30.
The 14-day Relative Strength Index (RSI) dives to near 40.00. Should RSI (14) falls below 40.00, a bearish momentum will be triggered.
Silver daily chart
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Managing ADHD effectively comes down to finding the right support that can make all the difference in feeling focused and balanced throughout the day. While a balanced diet plays its role, it’s important to give your brain function a boost with supplements designed to enhance cognitive function and mental clarity. The best ADHD supplements on Amazon offer natural ingredients like magnesium, omega-3s, and herbs like Ginkgo Biloba, all of which work to boost attention, calm the mind, and improve focus without harsh side effects. So, if you’re ready to find some brain-friendly boosters to support your daily grind, this guide has you covered with top-rated options designed to keep your mind sharp and centered. Let’s get to it right away!
This magnesium supplement isn’t your average option. It’s specifically designed to increase magnesium levels in the brain to support focus, memory, and overall cognitive health. Its unique and highly absorbable form makes it easy for the body to use so you get the most from each capsule. It’s also known for promoting relaxation, which makes it a great addition to a nighttime routine. With quality sourcing and third-party testing, this supplement for ADHD is all about purity and potency.
This lion’s mane supplement for ADHD is crafted for those looking to improve focus and mental clarity without synthetic additives. This one’s made with organic Lion’s Mane mushroom and is packed with antioxidants that support overall wellness while helping with cognitive performance. No wonder, it makes for a fantastic choice for busy professionals or students. Each capsule is designed to be gentle yet effective, and offers a convenient way to boost your mental edge as part of your daily wellness routine.
Rated 9.7 based on 10
JPOST
Pros & Cons
✙Enhances mental clarity
✙Overall wellness support
✙Convenient two-month supply in one bottle
–Potential for stomach discomfort in sensitive individuals
This mushroom blend is like the ultimate wellness boost in a capsule and packs 20 mushrooms, including Lion’s Mane, Turkey Tail, Reishi, Chaga, and Cordyceps. It’s designed for those who want serious mental clarity and all-around health support in one go. Just two capsules a day give you the benefits of multiple mushrooms without the need for several supplements crowding up your cabinet. This is an interesting option if you’re looking to add a natural and high-potency supplement to your routine. This one’s crafted for maximum impact with trusted ingredients and an advanced formula that brings it all together.
Rated 9.5 based on 10
JPOST
Pros & Cons
✙Combines potent mushroom extracts
✙High-dose formula for noticeable wellness support
This brain support supplement is packed with a unique blend of vitamins, minerals, and herbal extracts aimed at enhancing mental clarity, focus, and memory. It boasts a range of interesting and result-oriented ingredients like DMAE, GABA, and Huperzine. This supplement for ADHD is designed to support brain health by boosting nutrient flow and balancing brain waves. This helps you feel sharp and focused. It’s indeed a solid choice for those wanting to support their brain power naturally.
Here’s another interesting supplement for ADHD that brings together 11 potent ingredients like Ginkgo Biloba, L-Theanine, and Alpha GPC. It creates a vegan and stimulant-free formula perfect for anyone wanting a caffeine-free brain boost. With Bioperine for improved absorption, this supplement for ADHD is designed to enhance mental clarity, focus, and memory without the jitters. It’s also ideal for busy professionals and students who need sustained mental support throughout the day. Plus, it’s third-party lab-tested, so you can trust you’re getting a quality product in every capsule.
These brain-boosting softgels offer a powerful mix of Omega-3s, Bacopa Extract, and B vitamins to support memory, focus, and overall mental sharpness. This option is ideal for those looking to keep mentally sharp. Flavor is another plus for people who prefer their supplements to have a subtle flavor. These peppermint-flavored softgels are easy to swallow and fit neatly in your bag for a quick dose of brain support on the go. Not to mention, this supplement for ADHD boasts a trusted blend of quality ingredients and is both effective and enjoyable.
This gentle herbal blend is a natural option for parents seeking to support their child’s focus, attention, and calmness. This supplement for ADHD designed for kids is not only enriched with the goodness of adaptogens like Rhodiola and Gotu Kola, but also includes calming herbs like Lavender and Spearmint. These are great organic option drops designed to help kids manage stress while enhancing mental clarity. The liquid form is perfect for little ones who prefer an easy and no-pill solution. It’s vegan, non-GMO, and free of major allergens, so it fits into most family lifestyles.
Rated 8.7 based on 10
JPOST
Pros & Cons
✙Designed especially for kids
✙Supports focus
✙attention
✙calmness
✙and relaxation
✙Easy-to-take liquid drops
–May require dosage adjustments for optimal effectiveness
FAQ
Q: Are ADHD supplements safe to use with prescription medication?
A: Many ADHD supplements are designed with natural ingredients like herbs, vitamins, and minerals, which are generally safe. However, certain supplements can interact with prescription medications, especially those that affect brain function, such as stimulants commonly used for ADHD. It’s crucial to consult with a healthcare provider before adding any supplement to your routine if you’re already taking prescription medication for ADHD. This ensures safety, as some ingredients, like St. John’s Wort or L-Tyrosine, may influence how medications work.
Q: How long does it typically take to notice effects from ADHD supplements?
A: The timeframe for noticing benefits varies depending on the supplement and the individual. Most people begin experiencing subtle changes in focus, calmness, or clarity within 1-2 weeks of consistent use. However, supplements that support nutrient levels, like magnesium or omega-3s, may require 4-6 weeks to show noticeable results. Ingredients like caffeine or L-Theanine may have immediate but short-term effects, while others, such as Bacopa or Ginkgo Biloba, typically build up over time for long-term benefits.
Q: Can children safely take ADHD supplements?
A: Some ADHD supplements are formulated specifically for children, featuring kid-safe ingredients like magnesium, omega-3s, and certain herbal extracts. However, children’s bodies respond differently to supplements than adults, and what works for one child may not work for another. Consulting a pediatrician before introducing any supplement is essential, especially if the child is already on medication. Look for supplements that are free from stimulants, artificial ingredients, and allergens to support safety and minimize side effects.
Q: What are the most researched ingredients in ADHD supplements?
A: Certain ingredients, such as omega-3 fatty acids, magnesium, zinc, and Ginkgo Biloba, are well-researched for their impact on ADHD symptoms. Omega-3s, commonly found in fish oil, support brain health and cognitive function, while magnesium can help with relaxation and focus. Zinc plays a role in neurotransmitter function, and Ginkgo Biloba is known for improving blood flow to the brain. These ingredients have been studied for their potential in reducing ADHD symptoms and are popular choices in ADHD supplements.
Q: Can diet impact the effectiveness of ADHD supplements?
A: Absolutely, diet plays a role in how well ADHD supplements work. A diet rich in whole foods, like vegetables, lean proteins, and healthy fats, provides a strong nutritional foundation, allowing supplements to be more effective. High sugar and processed food intake can increase ADHD symptoms, reducing the benefits of the supplements. Additionally, certain vitamins and minerals require dietary fat for absorption, so taking supplements with a healthy meal may improve their bioavailability and effectiveness.
Article Contributors
JPost Advisor Team
The Jpost Shopping team offers expert picks and insights, helping you find lifestyle-enhancing products. Independent of the newsroom and reader-supported, our team of writers and product enthusiasts also use AI to ensure product dimensions, availability, and pricing are accurate.
Cardano extends gains on Friday, following a close above a descending trendline the previous day.
Technical indicators and on-chain data show bullish momentum, suggesting a rally ahead.
A daily candlestick close below $0.361 would invalidate the bullish thesis.
Cardano (ADA) extends its gains on Friday, trading 5% higher at the time of writing after rallying 12% and closing above its descending trendline on Thursday. The technical outlook and on-chain metrics support ADA’s rise, which shows that bullish momentum is gaining traction and suggests a continuation of the rally.
Cardano bulls eye for April high
Cardano price broke and closed above a descending trendline (drawn by connecting multiple highs since the end of April) on Thursday. At the time of writing on Friday, it continues to edge higher around $0.431.
If ADA maintains its upward momentum and closes above its daily resistance at $0.445, it could extend the rally by 45% from its current level to retest its April 9 high of $0.624, which roughly coincides with the 61.8% Fibonacci retracement level (drawn from March high of $0.810 to an August low of $0.277) at $0.606.
The Moving Average Convergence Divergence (MACD) indicator further supports Cardano’s rise, signaling a bullish crossover on Thursday’s daily chart. The MACD line (blue line) moved above the signal line (yellow line), giving a buy signal. However, the Relative Strength Index (RSI) stands at 70, entering overbought conditions. Traders should be cautious of adding new long positions because the chances of a price pullback increase.
ADA/USDT daily chart
Cardano’s on-chain data further supports the bullish thesis. Coinglass’s data shows that the futures’ Open Interest (OI) in Cardano at exchanges is increasing. Increasing OI represents new or additional money entering the market and new buying, which suggests a bullish trend.
The graph below shows that ADA’s OI increased from $217.71 million on Wednesday to $329.01 million on Friday, the highest level since mid-April.
ADA Open Interest chart. Source: Coinglass
Santiment’s Age Consumed index aligns with the bullish outlook noted from the technical perspective. Spikes in this index suggest dormant tokens (tokens stored in wallets for a long time) are in motion and can be used to spot short-term local tops or bottoms.
For ADA, history shows that the spikes at the Age Consumed index were followed by a rally in Cardano’s price. The most recent uptick on Wednesday also forecasted that ADA was ready for an uptrend.
ADA Age Consumed index chart. Source: Santiment
Despite the bullish thesis signaled by both on-chain data and technical analysis, the outlook will shift to bearish if Cardano’s daily candlestick closes below Thursday’s low of $0.361. This scenario could lead to a 12.40% crash to retest its daily support at $0.316.
Silver struggles to capitalize on the previous day’s goodish rebound from a three-week low.
The technical setup favors bears and supports prospects for a further near-term downfall.
A sustained strength above the $32.30-$32.35 area is needed to negate the negative bias.
Silver (XAG/USD) meets with a fresh supply on Friday and reverses a major part of the previous day’s goodish recovery move from over a three-week low. The white metal continues losing ground through the first half of the European session and touches a fresh daily low, around the $31.30 area in the last hour.
From a technical perspective, any further decline is likely to find some support near the $31.00 mark ahead of the $30.85-$30.80 region, or the multi-week low. Some follow-through selling below the 50% Fibonacci retracement level of the August-October rally, around the $30.65-$30.60 area, will be seen as a fresh trigger for bearish traders.
Given that oscillators on the daily chart have just started gaining negative traction, the subsequent fall could drag the XAG/USD below the 100-day Simple Moving Average (SMA), currently pegged around the $30.25 area, towards the $30.00 psychological mark. The downward trajectory could extend to the 61.8% Fibo. level, near the $29.65 region.
On the flip side, the $32.00 round figure now seems to have emerged as an immediate strong hurdle. This is followed by a hurdle near the $32.30-$32.35 horizontal zone, which if cleared decisively might trigger a short-covering move to the $33.00 mark before the XAG/USD extends the positive momentum towards the next relevant barrier near the mid-$33.00s.
Silver daily chart
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Looking for a safe and effective Phentermine alternative that you can get over the counter (or online)?
The good news is there are some OTC supplements that claim to deliver the same results without the prescription or side effects.
In this guide we’ll look at the 7 best Phentermine alternatives on the market, comparing their ingredients, effectiveness and safety.
Whether you’re on a budget or looking for a premium supplement tailored to your needs we’ve got you covered. Get ready to unlock natural weight loss and goodbye to prescription side effects.
If you were to put your faith in one brand we would highly recommend PhenQ – it is the closest natural weight loss pill to Phentermine and available to obtain direct from the manufacturer. There is a 60 day guarantee and free delivery anywhere in the world.
Top Phentermine Alternatives: Effective Weight Loss Options to Explore
Here are the most effective and most popular OTC options on the market.
Natural Ingredients: Contains mostly natural ingredients like α-Lacys Reset® and Capsimax powder.
Positive User Reviews: Many users report significant weight loss when used alongside a healthy lifestyle.
Cons of PhenQ
Doesn’t ship to all countries: South Africa and some Asian countries
Contains some caffeine: Although nothing out of the ordinary
PhenQ is the go to over the counter weight loss supplement, it’s a total solution that goes beyond the single focus of phentermine. Unlike phentermine PhenQ’s formula targets multiple areas of weight loss making it a more effective and sustainable solution for men and women.
PhenQ Ingredients
PhenQ’s secret is in its unique blend of ingredients that work together to boost metabolism, burn fat and prevent fat storage.
The patented α-Lacys Reset compound has been clinically proven to increase thermogenesis so your body burns more calories even at rest.
The capsimax powder and chromium picolinate in PhenQ helps to suppress appetite and regulate blood sugar levels so you can stick to your calorie controlled diet.
Plus PhenQ does all this without relying on stimulants that can cause side effects.
By taking a more balanced approach you get sustained energy and no jitters or crashes and overall better well being and weight loss.
Day and Night Formula: Targets weight loss 24/7 with separate day and night pills.
Boosts Metabolism: Helps increase metabolism during the day and night.
Improves Sleep: Night formula promotes restful sleep without stimulants.
Natural Ingredients: Contains mostly natural ingredients like caffeine and glucomannan.
Supports Energy Levels: Daytime pills help maintain energy and focus.
Cons of Phen24
Requires Twice-Daily Dosing: You need to remember to take both day and night pills.
Potential Side Effects: Some may experience mild side effects such as headaches or digestive issues.
Phen24’s Full Day and Night Fat Burning
Phen24 is an over the counter weight loss supplement that’s truly different from the rest.
What makes Phen24 special is that it has a dual action formula that works day and night to optimize your body’s natural processes for 24/7 fat burning.
Day and Night
Phen24’s day formula is designed to boost metabolism, suppress appetite and increase energy so you can make better choices and stay active all day.
The night formula works to support your body’s natural sleep cycle which is crucial for hormone regulation and fat burning during the resting phase.
By addressing your body at different times of the day Phen24 gives you a full and synergistic weight loss solution.
The ingredients like caffeine, chromium and zinc work together to boost daytime calorie burning and the night formula’s ashwagandha, griffonia and L-tryptophan blend promotes relaxation and recovery so your body can burn fat even at rest.
Phen24’s Benefits
This dual action formula makes Phen24 different from the rest, it gives you a full and natural solution for long term weight management.
By addressing day and night weight loss Phen24 lets you achieve your goals without harsh stimulants or side effects.
Natural Ingredients: Made with natural components like capsicum, caffeine, and niacin.
Increases Energy: Caffeine content may improve energy levels and focus.
Positive User Feedback: Many users report noticeable weight loss results.
Cons of Capsiplex
Potential Side Effects: Some users may experience stomach irritation or heartburn due to the capsicum.
Not Ideal for Caffeine-Sensitive Individuals: Contains stimulants that may cause jitters or insomnia.
Unlock the Power of Natural Weight Loss with Capsiplex
Capsiplex’s Special Formula for Fat Burning
Capsiplex has become the number one over the counter weight loss supplement thanks to its unique and proven formula.
In contrast to many other products out there Capsiplex uses natural ingredients to give you a full solution to lose those unwanted pounds. The Thermogenic Power of Capsicum
At the core of Capsiplex’s success is capsicum, a compound found in chili peppers that has been shown to be thermogenic.
By increasing the body’s ability to burn calories and fat Capsiplex will stimulate the metabolism and burn more calories and ultimately weight loss.
Additional Ingredients for Extra Effect
Capsiplex’s formula goes beyond just capsicum, it includes other natural ingredients that work together to support the weight loss process.
Caffeine and piperine for example help to suppress appetite and curb food cravings so you can stick to your calorie controlled diet.
Balanced for Long Term Results
Most importantly Capsiplex takes a balanced approach so you can experience the benefits of the natural ingredients without the side effects of stimulant heavy supplements.
This makes Capsiplex a great alternative to Phentermine for men and women needing a safe and effective weight loss solution that gives long term results.
Supports Ketosis: Helps the body enter and maintain ketosis faster by providing exogenous ketones.
Boosts Energy: Provides an energy source from ketones, reducing fatigue during the keto diet.
Reduces Keto Flu Symptoms: May alleviate symptoms like headaches and brain fog during the transition into ketosis.
Natural Ingredients: Made with natural salts and electrolytes that support hydration.
Helps Burn Fat: Encourages fat burning by promoting the use of stored fat for energy.
Cons of Keto Charge
May Cause Digestive Issues: Some users report bloating or stomach discomfort from the electrolytes.
Requires Consistency: Effectiveness depends on maintaining a ketogenic diet alongside supplement use.
Get Sustained Weight Loss with KetoCharge
KetoCharge is a Phentermine alternative that stands out from the rest.
Phentermine is all about stimulants, KetoCharge takes a more gentle approach by combining ingredients that work together to support the body’s natural fat burning process.
By inducing ketosis, KetoCharge allows the body to tap into its fat reserves for energy and a more sustainable weight loss journey.
Plus KetoCharge has appetite suppressing ingredients so you feel fuller for longer and can stick to your diet goals.
With its natural ingredients and overall benefits KetoCharge is a safer and better Phentermine alternative for a long term weight loss solution.
5. Clenbutrol – Great For Fat Loss While Working Out
Fat Burning: Promotes thermogenesis, helping to burn fat more efficiently.
Boosts Energy: Increases energy levels, supporting intense workouts.
Enhances Performance: May improve endurance and stamina during exercise.
Natural Ingredients: Made with natural components like Garcinia Cambogia and guarana extract.
No Prescription Needed: Safe and legal alternative to Clenbuterol, without the need for a prescription.
Cons of Clenbutrol
Contains Stimulants: May cause jitteriness or restlessness due to caffeine content.
Results Vary: Some users may experience slower or less noticeable results depending on diet and exercise regimen.
Clenbutrol: The Phentermine Alternative for Fast Weight Loss
Clenbutrol is a natural and fast working over the counter alternative to Phentermine.
At the heart of Clenbutrol’s power is thermogenesis, the process that raises your metabolism and allows your body to burn fat faster.
By using natural thermogenic ingredients Clenbutrol ignites your body’s fat burning potential and helps you lose weight easier and faster.
But Clenbutrol doesn’t stop there – it also helps to suppress appetite, preserve lean muscle mass and increase oxygen flow, all of which contributes to a holistic weight loss journey.
Phentermine relies heavily on stimulants – in contrast Clenbutrol is a safer natural alternative that lets you achieve your weight loss goals without the harsh side effects. 6. Zotrim – Herbal Hunger Suppressant
Appetite Suppression: Helps reduce hunger and control cravings.
Natural Ingredients: Made from plant-based ingredients like yerba mate, guarana, and damiana.
Boosts Energy: Provides an energy boost, helping to enhance physical activity and weight loss.
Clinically Proven: Supported by studies showing its effectiveness in aiding weight loss.
Improves Satiety: Helps you feel fuller for longer, reducing overall calorie intake.
Cons of Zotrim
Contains Caffeine: May cause jitteriness or sleep disturbances in caffeine-sensitive individuals.
Requires Consistency: Results may take time and depend on regular use along with a proper diet and exercise.
Zotrim: The Natural Alternative to Prescription Weight Loss Pills
When it comes to weight loss, Zotrim is the better alternative to Adipex or Phentermine. Zotrim uses natural ingredients to help you lose weight.
Its unique formula combines appetite suppressing compounds like yerba mate and guarana to reduce cravings and feel full. Natural means no side effects like prescription medications.
Zotrim’s natural formula is safer and more sustainable.
By addressing the reasons you overeat and gain weight, Zotrim helps you develop healthy habits and keep the results for life.
Goodbye to the prescription pill rollercoaster and hello to the natural power of Zotrim for a transformation.
7. Phengold – Natural Multi Action Weight Loss Supplements
Boosts Metabolism: Contains ingredients like green tea and cayenne pepper to enhance fat burning.
Appetite Suppression: Helps reduce cravings and control calorie intake.
Natural Ingredients: Made with natural components such as green coffee, Rhodiola, and vitamins.
Increases Energy and Focus: Caffeine and L-theanine improve energy levels and mental clarity.
Supports Fat Loss: Designed to accelerate fat loss when combined with a healthy diet and exercise.
Cons of PhenGold
Contains Stimulants: Caffeine may cause jitters or insomnia in sensitive individuals.
Results Vary: Weight loss results may differ depending on individual factors and adherence to diet and exercise.
Unleash Your Weight Loss with PhenGold
PhenGold is an over the counter alternative to Phentermine (Adipex) prescription anti-obesity drugs.
Unlike these dangerous medications PhenGold uses a specially designed blend of natural ingredients to help you lose weight.
It targets multiple areas of weight loss, appetite suppression, fat burning and mental focus and energy. This is what sets PhenGold apart, so you can achieve your goals without the side effects of prescription medications.
A Better, Longer Term Solution
PhenGold’s all natural formula is not only safer but also longer term. By addressing the causes of weight gain PhenGold helps you develop good habits and keep the results long term.
Goodbye to the prescription drug rollercoaster and hello to the natural power of PhenGold for a lifelong transformation.
What is Phentermine
“The Prescription Weight Loss Solution That’s Been Around for Decades”
Phentermine is a prescription-only medication that has been a staple in the weight loss arena since the 1950s.
As one of the most frequently prescribed diet pills in the United States, Phentermine has long been relied upon for its ability to suppress appetite and support weight management goals.
This sympathomimetic amine drug works by stimulating the body’s fight-or-flight response, tricking the brain into feeling full and satisfied, even when caloric intake is reduced.
With its longstanding history and widespread use, Phentermine has become a go-to option for healthcare providers looking to help their patients achieve their weight loss objectives.
However, its status as a controlled substance and the potential for side effects mean that Phentermine should only be used under the close supervision of a medical professional.
Why Use an Alternative Instead of Phentermine?
Phentermine Alternatives for a Safer, Longer Term Solution
When it comes to weight loss many people turn to prescription medications like Phentermine.
But the downsides of Phentermine, side effects and needing a doctor’s supervision have led to the rise of over the counter alternatives.
Natural OTC supplements offer a safer, longer term solution by using clinically backed ingredients to support your weight loss goals.
Phentermine can be habit forming and cause unwanted side effects – over the counter alternatives provide a gentler yet effective way to suppress appetite, boost metabolism and increase energy – all without a prescription.
Go natural and discover the benefits of Phentermine alternatives.
Benefits of Phentermine Alternatives: A Safer, More Convenient Way to Lose Weight
Milder Side Effects than Prescription Phentermine
OTC Phentermine substitutes have milder side effects compared to prescription versions, offering a gentler approach to weight loss without the risk of severe reactions like jitters or insomnia.
No Doctor’s Note Needed for Easy Access
These options are available without a prescription, making them more accessible and convenient for those seeking a weight loss solution. Easily purchased online or from trusted retailers.
Natural Ingredients Included
Phentermine substitutes often feature natural ingredients like herbs and vitamins, supporting both weight loss and overall health, unlike prescriptions that target only one aspect.
Effective for Appetite Suppression, Metabolism, and Energy
Designed to suppress appetite, boost metabolism, and increase energy, these substitutes provide a comprehensive approach for sustainable weight loss. How to Choose the Best Phentermine Alternative: Safety and Efficacy First
When choosing a Phentermine alternative you need to consider many things to find the one that’s right for you and your health goals.
Your Age, Weight and Health Status
First of all consider your age, current weight and overall health. Different Phentermine alternatives are suitable for people at different stages of life and with different weight loss needs.
Natural Ingredients and No Harsh Chemicals
When looking for Phentermine alternatives look for products that use natural, clinically tested ingredients not harsh synthetic chemicals. Natural ingredients like botanicals, vitamins and minerals are generally safer and more likely to give a gentle yet effective weight loss solution.
Check the Safety Profile and Side Effects
Phentermine alternatives are designed to be gentler than the prescription medication but still you need to review the safety profile and side effects of the supplement you’re considering.
Read Reviews and Ratings from Others
Hearing from others can give you valuable information on the effectiveness and safety of Phentermine alternatives. Take the time to read reviews and ratings from others to get an idea how a product works.
Prescription Weight Loss Medications vs. Natural Supplements
Prescription weight loss drugs like semaglutide and tirzepatide work but you need a doctor. Natural dietary and herbal products like green tea and conjugated linoleic acid are an alternative to weight management. PhenQ as a brand is arguably the most successful over the counter alternative to Phentermine. Risks and Benefits
When looking for weight loss alternatives consider the risks and benefits of each. This will help you make an informed decision that fits your health goals and personal preferences.
Over-the-Counter Weight Loss Options
Orlistat (Alli): A weight loss medication approved by the FDA, designed to reduce the absorption of fats in the body.
Green Tea Extract: A natural supplement that may promote fat burning and enhance metabolism.
Glucomannan: A soluble fiber that can help curb hunger and increase feelings of satiety.
Probiotics: May support weight loss by altering the composition of gut microbiota.
Best Phentermine OTC Alternative Summary
Instead of Phentermine prescription weight loss medication, there are many over the counter supplements that can give you similar benefits in a natural way.
Among the best are PhenQ, Phen24 and Capsiplex. These supplements use clinically proven ingredients like chromium, caffeine and capsicum to suppress appetite, boost metabolism and give you energy – without the need for a prescription.
If you are looking for a more accessible and natural solution to your weight loss goals, over the counter Phentermine brands like PhenQ, Phen24 and Capsiplex are excellent choices. FAQs
What is the best Phentermine alternative OTC?
The best alternative to Phentermine OTC depends on individual needs and preferences, but top-rated options include PhenQ, Phen24, and Capsiplex.
What is the safest Phentermine alternative?
The safest alternatives are those formulated with natural, clinically-studied ingredients and have a proven safety profile, like Leanbean and Zotrim.
What is the cheapest Phentermine alternative?
Budget-friendly options include Capsiplex and KetoCharge, which offer effective weight loss support without breaking the bank.
Do Phentermine alternatives actually work?
Yes, many Phentermine alternatives can be effective in supporting weight loss when used as part of a balanced lifestyle. Key ingredients like caffeine, green tea, and chromium have been shown to aid in appetite suppression and metabolism boosting.
How do Phentermine alternatives compare to the prescription drug?
Phentermine alternatives tend to be gentler, with a lower risk of side effects, but may not be as potent as the prescription medication. They offer a more natural approach to weight management. Can Phentermine alternatives be used long-term?
Many Phentermine equivalents can be safely used for extended periods to support ongoing weight loss and maintenance, whereas Phentermine is typically prescribed for short-term use.
Are Phentermine alternatives available without a prescription?
Yes, Phentermine alternatives are available over-the-counter and online without the need for a doctor’s prescription, making them more accessible. What are the potential side effects of Phentermine substitutes?
Phentermine substitutes typically have milder side effects, such as jitteriness or headaches, compared to the prescription medication. The specific side effects can vary depending on the individual formula. How quickly can I expect to see results from Phentermine alternatives?
Results from Phentermine alternatives can vary, but many users report experiencing benefits like increased energy, reduced appetite, and gradual weight loss within the first few weeks of use.
Disclaimer: The views and opinions expressed in the story are independent professional judgment of the experts and we do not take any responsibility for the accuracy of their views. This should not be considered as a substitute for medical advice. Please consult your treating physician for more details. This brand is solely liable for the correctness, reliability of the content and/or compliance of applicable laws. The above is non-editorial content and TIL does not guarantee, vouch or endorse any of it. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified.
Published On Nov 8, 2024 at 04:58 PM IST
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EUR/USD retreats below 1.0800 after posting gains on Thursday.
The Fed lowered the policy rate by 25 bps as expected.
The near-term technical outlook points to a lack of bullish momentum.
Following Wednesday’s sharp decline, EUR/USD gained traction and rose nearly 0.7% on Thursday. The pair, however, struggles to keep its footing and trades below 1.0800 in the European morning on Friday.
After outperforming its rivals with the initial reaction to the Donald Trump’s victory in the presidential election on Wednesday, the US Dollar (USD) lost its strength as investors booked profits ahead of the Federal Reserve’s (Fed) monetary policy announcements.
US Dollar PRICE This week
The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the Swiss Franc.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
0.51%
-0.38%
0.40%
-0.27%
-1.39%
-0.45%
0.64%
EUR
-0.51%
-0.92%
-0.53%
-1.16%
-1.58%
-1.34%
-0.27%
GBP
0.38%
0.92%
0.12%
-0.24%
-0.67%
-0.42%
0.66%
JPY
-0.40%
0.53%
-0.12%
-0.66%
-1.23%
-0.63%
0.55%
CAD
0.27%
1.16%
0.24%
0.66%
-0.92%
-0.21%
0.90%
AUD
1.39%
1.58%
0.67%
1.23%
0.92%
0.25%
1.33%
NZD
0.45%
1.34%
0.42%
0.63%
0.21%
-0.25%
1.09%
CHF
-0.64%
0.27%
-0.66%
-0.55%
-0.90%
-1.33%
-1.09%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
The Fed lowered the policy rate by 25 basis points to the range of 4.5%-4.75% following the November policy meeting, as anticipated. In its policy statement, the US central bank repeated that risks to the job market and inflation were “roughly in balance.” In the post-meeting press conference, Fed Chairman Jerome Powell refrained from hinting whether they will ease the policy further in December and explained that the results of the presidential election will have no effect on the monetary policy in the near term.
The market reaction to the Fed event remained largely muted. According to the CME FedWatch Tool, the probability of a 25 bps rate cut in December remains largely unchanged at about 70%. Early Friday, the cautious market mood helps the USD hold its ground and doesn’t allow EUR/USD to extend its rebound.
The University of Michigan’s (UoM) preliminary Consumer Sentiment Index for November will be featured in the US economic docket. In the meantime, US stock index futures were last seen trading virtually unchanged on the day. In case markets remain cautious following Wall Street’s opening bell, the USD could stay resilient against its peers and limit EUR/USD’s upside.
EUR/USD Technical Analysis
The Relative Strength Index (RSI) indicator on the 4-hour chart stays below 50, suggesting that the bearish bias remains intact following Thursday’s correction.
On the downside, static support is located at 1.0750 ahead of 1.0700 (static level, round level) and 1.0680 (static level). Looking north, initial resistance aligns at 1.0800 (static level, round level) before 1.0870 (200-day Simple Moving Average).
Euro FAQs
The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.
Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy.
Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
Amid the generally enthusiastic atmosphere in the wider cryptocurrency market upon the victory of the pro-crypto presidential candidate Donald Trump, $XRP is among the digital assets experiencing a particular boost.
With its longstanding reputation as a bank-friendly crypto asset and the favorable judgment in the court case between the United States Securities and Exchange Commission (SEC) and Ripple in 2023, $XRP has garnered attention for its steady resilience.
Taking into account the current bullish momentum and these positive influences, this might just be the beginning of a significant rally for $XRP in the weeks to come.
However, while $XRP might be looking at stronger price action, a different type of crypto has entered the spotlight: Shiba Galaxy ($SHIB). This newcomer is already captivating the meme coin community by blending the lighthearted appeal of meme culture with tangible, tech-driven features.
Its fresh approach is turning heads and raising questions about whether $SHIBG is a more exciting choice in today’s meme-hungry market.
Is $XRP headed for a bullish run?
As it happens, $XRP has had a steady October in terms of its price movement, demonstrating resistance to market volatility and continuous investor interest. However, it didn’t make a stronger upward move until early November, pushed by the optimistic sentiment surrounding Trump’s win.
According to prominent crypto expert Alan Santana, $XRP has recently been trading below 0.618 Fibonacci retracement on its weekly chart relative to the bullish streak from the June 2022 low to the July 2023 high. Below this line, its bearish potential is strong and a crash could occur at any time.
On the other hand, should $XRP break above this level, Santana expects it to continue upwards. The new wave of optimism in the crypto industry, which has already sent this token above the critical $0.53 threshold, might indeed help make the projected scenario materialize.
All of this goes to show that, while $XRP’s steady performance has gained it a loyal following, the overall sentiment can be unpredictable. Even such a widely adopted digital asset isn’t immune to sudden market shifts, and investors should keep an eye on broader factors that may influence its price trajectory.
But here’s the twist: as $XRP consolidates, meme coins are getting their time to shine.
Rise of Shiba Galaxy ($SHIBG)
Here’s where Shiba Galaxy enters the stage, the newest star in the meme coin universe that’s quickly gaining a large following. However, $SHIBG is more than a “mere” meme token.
It’s a Layer 2 blockchain designed with scalability and high speed in mind, making it a promising project for those looking for fun and functionality.
Notably, meme coins have demonstrated that they can thrive and gather a devoted community even when the broader market faces turbulence. Shiba Galaxy has already distinguished itself among them by adding real-world utility to the mix.
With its efficient and scalable platform, fast bridging to the Ethereum ($ETH) network, and ultra-low transaction fees, Shiba Galaxy has captured interest from those craving more than just upside potential and want a meme coin that truly stands out from the pack.
Currently going for $0.109 apiece in presale and with a modest market capitalization of $32 million, $SHIBG offers investors a ground-floor opportunity to join a rapidly growing community, carving out a name for itself in the already established meme coin sphere.
Memes meet utility meet opportunity
Ultimately, for those looking to diversify their portfolio beyond traditional tokens like $XRP, $SHIBG represents a unique chance to get in on a project that combines meme coin culture with practical utility. So, don’t get left behind on the Shiba Galaxy launchpad; the next big wave in crypto could start right here.
This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article
The West Texas Intermediate crude oil market has bounced around during the trading session on Thursday as we wait for the FOMC meeting but there are a lot of technical things going on at the same time.
The market is currently hanging around the 50 day EMA which is a large indicator that a lot of people pay close attention to.
The $72.50 level above is a significant resistance barrier.
If we can break above that, then I think it opens up the possibility of a move toward the 200-day EMA, which is attractive to a lot of traders. And that happens to be near the crucial $75 region. If we pull back from here, the $70 level could be a major support level as we’ve seen a couple of times here recently, but even if we break down below that, then you’re looking at $67.50 level as a potential floor as well.
In general, this is a market that I think continues to see a lot of choppiness and indecision, and there are a lot of things going on to cause that. After all, we have seen the $65 level underneath is a massive floor in the market over the last couple of years.
The USA is About to Make Its Prescence Known
Regardless, this is a situation where the United States will be a major influence on the oil market going forward now that Donald Trump has been elected. One of his biggest platforms is to continue to drill and make not only the United States, energy independent, but energy dominant. For example, there are places in United States territory such as the Anwar, which is a preserve in Alaska, but if they tap that, it has more oil than Saudi Arabia. There is a high probability that the Americans will start drilling in places like that again, and if they do, it will put a bit of a ceiling on the market. That being said, that is several months out, maybe even a couple of years, but that will be an overhang in the market. So, I think we go sideways, possibly as high as the 200 day EMA, but breaking above there, I think is going to take some type of event. We’ll have to wait and see.
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