The downtrend for EURGBP continues to be very strong from a technical perspective, with clearer spaces forming between the 50, 100 and 200 SMAs and price extending below the 38.2% area of the weekly Fibonacci fan. Oversold is an important concern for new sellers here, though, with the slow stochastic (15, 5, 5) having displayed…
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OIL Optimism about the vaccine roll out is ensuring markets remain in “risk on” mode. This, in conjunction with the huge liquidity injected by central banks, is pulling up stock markets. This positivity is also impacting oil, with both the main benchmarks recently climbing to their highest in 12 months, including WTI breaking through the…
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OIL Investors are still buying every dip in the price of oil. Both major benchmarks, WTI and Brent, are in a clear bullish trend, as investors are betting on a fast economic recovery once the vaccine allows restrictions to ease. Furthermore, any news on more fiscal or monetary stimulus will generate fresh optimism and trigger…
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From a technical perspective, the uptrend still seems to be active on this timeframe: there has been no clear breach of the 100 SMA. However, price has now moved out of oversold based on both Bollinger Bands (50, 0, 2) and the slow stochastic (15, 5, 5), so more losses this week might be expected…
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GOLD Gold is edging closer to the first resistance level at $1,850, thanks to a weakening dollar. A clear climb above this threshold could open space for further recoveries, but so far the general risk on mood on stock markets is pushing investors to buy riskier assets, hoping for quicker profits. Despite some signs of…
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OIL Brent has reached the threshold of $60 for the first time in more than a year with a mix of elements behind oil’s rally. First of all, expectation for a quick and full economic recovery of (albeit perhaps a little overly optimistic). Secondly, investors are expecting new economic stimulus measures from the US Government. The…
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GOLD Gold has rallied slightly in the last few hours but remains under pressure from various factors that have seen the price fall below $1,800. Strength shown in many stock markets in recent days has pushed investors to look for riskier assets, while more positive signals in the US labour market is bringing hope for…
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GOLD Gold is extending its loss in the general risk on scenario with investors betting on riskier assets, trying to achieve quicker gains. Moreover, the US Dollar is continuing to recover, and this is causing the bullion price to decline. Growing expectations about a relatively quick end to the pandemic are raising hopes on the…
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GOLD AND SILVER Indices closed yesterday’s trading sessions in green and started this morning in the same way with risk on still dominating sentiment. Moreover, the greenback is strengthening and EUR/USD is getting closer to 1.20. As a result, investors are not keen on increasing their position on gold and bullion declined to $1,835. The…
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SILVER Silver is not GameStop. That is the first lesson of the last few trading hours. After successfully pushing up Dogecoin and GameStop, Reddit investors (and probably not only them) tried to replicate this success by targeting silver. But this is a much bigger whale, with a huge number of players involved. Moreover, silver is…
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