ActivTrades’ Market Analysts have prepared for Leaprate their daily commentary on traditional markets for May 17, 2019. See details below:
Gold
The gold recovery has lost steam in the last few sessions and the metal is declining again below $1,300. Bullion prices had broken the bearish trendline that had marked the last few months but we are now seeing a pullback to this range again.
The next few sessions will be crucial to understand if the current decline is going to be short-lived or if the negative pressure seen in the last few months is still dominating the scenario.
A clear recovery to the $1,300 level, and prices holding above this psychological threshold, would confirm the supportive scenario seen in the last two weeks, while a fall below $1,280 would be seen as a negative element. The picture remains bearish for silver: the grey metal fell yesterday to a new low as investors fear the trade war could generate a slowdown in demand.
Source: ActivTrades
Carlo Alberto De Casa – Chief Analyst, ActivTrades
European shares
Stocks declined across Europe this morning after yesterday’s bullish trading session. The fall has been mostly led by the Carmakers and Retail segment, following a tougher than usual tone adopted by Chinese state media on the U.S. and the trade dispute. Today’s bearish opening is due to lingering concerns regarding the trade situation which led some to take profit after yesterday’s rally on equities.
Volatility on the stock market is now likely to be on the rise until the next G-20 meeting. The Stoxx-50 index will have to clear the 3,400.0pts level in order to extent yesterday’s move higher. The DAX-30 index found support over 12,200.0pts now trading towards 12,235.0pts. The situation is a bit more concerning in Switzerland where absolutely no gains are being registered and the best performance is still being brought by Swisscom with a little -0.02%.
Pierre Veyret– Technical analyst, ActivTrades