EUROPEAN SHARES European markets had a mixed opening on Tuesday after the biggest sell-off of the first trading session of a year since 2016. Despite vaccines being deployed, record virus numbers in many areas as well as full lockdowns in a few hotspots, like England, are denting this week’s market sentiment. While many traders keep…
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From a technical point of view, the key resistance around $1,900 has now clearly been broken. Moving averages also flipped back to a strong buy signal in the week before Christmas, with both the 50 and 100 SMAs golden crossing the 200. Buying in now looks like a significant risk, though, given clear overbought conditions…
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WHAT WILL DRIVE GOLD IN 2021? 2020 proved to be a positive year for gold with investors rushing to the long-established haven asset as the coronavirus pandemic triggered an economic and health crisis, but what are going to be the main market drivers for 2021? After the black swan event dominated 2020, the lingering effects…
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EUROPEAN SHARES European stocks edged slightly higher on Wednesday, boosted by easing UK-EU tensions, with transaction volumes falling as we get closer to the end of the year. Investors continue to drive stocks higher, aiming to offset and fill the bearish gap left open at the beginning of the week, while market sentiment has received…
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OIL The oil price was hit by the risk off seen on markets in the last 36 hours. Growing fears about the new UK variant of the coronavirus, generated a sell off on both European stocks and oil. For WTI we have a quite significant support zone between $46.50 and $47 per barrel, which triggered…
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The pound’s fall today has been quite dramatic on the chart, with none of the 50, 100 or 200 SMAs providing any clear support. However, buying volume has been unusually high for the time of year so far today, so there is clearly some demand to push sterling back up toward the value area at…
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GOLD As markets scramble back to risk-off strategies, the gold price continues to rally. Bullion finished last week close to $1,900, pulled up by new stimulus from central banks and expectations for new measures in the upcoming months. News of the latest UK Covid variant has given further fuel to the precious metal recovery. From a…
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GOLD A weak US dollar combined with a new stimulus and a dovish Fed have created the perfect scenario for a new rebound for bullion. After some initial uncertainty, the positive momentum that has driven gold in the last few days has accelerated with the price jumping above the resistance level of $1,872-$1,875 to touch…
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GOLD Gold is extending its gain but, more crucially, has once again jumped above the resistance zone of $1,850. A weak greenback, with EUR/USD trying to force the 1.22 barrier and the Dollar Index falling to 90, is helping gold in its recovery while the short-term scenario is regaining momentum. The first target for bullion…
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GOLD We have seen an interesting rebound for gold in the last few hours, with the spot price bouncing up by $20 to get close – once again – to the resistance level of $1,850. A clear surpass of this barrier, could open space for further rebounds to $1,872-$1,875, while a next key level is…
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