There seems to be more room for gains here by the US dollar from a technical point of view. Moving averages are below the price, with none except the 200 SMA having offered significant resistance in the second half of January, and the 50 SMA from Bands is about to complete its golden cross of…
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Fear, however, is pushing many of the traders who have shorts on silver to start covering their positions. Sellers of the physical metal are also rushing to cover their short positions, to avoid finding themselves at a loss in the face of the startling increases. We must also stress, however, that a successful attack on…
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EUROPEAN SHARES European markets drifted lower at the opening of the last trading session of the week, following the global trend sparked on US shares yesterday. The worst weekly slide in three months on global markets came despite reassuring earnings and macro data this week, following concerns over volatile retail trading in the US. The…
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GOLD AND OIL All seems to be extremely calm as traders and investors wait to hear from Jerome Powell, Chair of the Federal Reserve, to try and understand if the US central bank is considering any tapering or has any concerns about the possibility of inflation in the next few months. In this scenario, gold…
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GOLD Uncertainty is the dominant theme on the gold market currently with bullion steady with little volatility as investors wait for a new market driver. After the fall in stock seen over the last few days, traders are trying to understand if this was only a correction of if the movie just started. Meanwhile, they…
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From a technical point of view, the time appears to have come for another leg up by AUD. The consolidation for the past two weeks has taken price out of overbought and brought it close to the 38.2% area of the weekly Fibonacci fan. Volume remains relatively low, though, so waiting for a key event…
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OIL Uncertainty is dominating early trading, after a weekend which showed that vaccines are proceeding slowly. Meanwhile, indices are trying a difficult, and so far inconsistent, rebound. Oil is following stocks and is showing a modest gain, which brought WTI back to the resistance level at $52.70. From a technical point of view, a clear break…
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EUROPEAN SHARES European equity markets drifted lower on Friday, following a global trend after mounting virus-related fears hit sentiment at the end of the week. The recent market euphoria fed by further stimulus plans and corporate results, peaked on Thursday as Joe Biden’s inauguration as President pushed US markets to record highs. Following that it…
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GOLD The presidency of Joe Biden started with expectations for a new stimulus and with a new rally for the bullion price. Gold jumped well above the threshold of $1,850 and is now dancing around the $1,870 mark. This rebound confirms the momentum for gold’s recovery has returned, as investors are betting on further monetary…
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OIL Oil is confirming its positive momentum with WTI rebounding above $53. Market sentiment remains positive as traders are building further long positions, in a clear bet on the demand side recovering once the vaccinations defeat the virus, putting an end to the lockdown of the last few months. Moreover, the price seems to be…
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