Stocks struggled for direction Tuesday morning, with investor attention still centered on fresh signs of corporate and economic stress from the coronavirus pandemic.
The natural gas markets have gone back and forth on Tuesday as we may have gotten a bit ahead of ourselves after the massive move on Monday.
Oil continues to trade above the 20 EMA at $40.65 as traders hope that continued economic recovery will lead to increased oil demand.
The US dollar has rallied just a bit on Tuesday against the Japanese yen during early trading but faces quite a bit of noise just above.
Analysts estimate that U.S. refined product stockpiles rose last week, according to a preliminary Reuters poll ahead of data from the API at 20:30 GMT.
The British pound tried to rally on Tuesday but gave back the gains yet again. It looks as if the markets are trying to pull back a bit from this resistance.
The Euro tried to rally on Tuesday but gave back the gains at 1.18. Of course it is a significant resistance barrier, just as the 1.17 level is support.