From a technical point of view, a retest of the 100% weekly Fibonacci retracement area, in other words full retracement of the dollar’s gains at the end of Q1 2020, looks likely sooner or later. Although volume has remained low since the middle of last week, the slow stochastic (15, 5, 5) has now emerged…
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OIL The general enthusiastic scenario is supportive for oil prices, which started the new week still in green. Markets are still in full risk on mode with investors betting on a vaccine and with it a relatively quick solution to the pandemic and this optimism is boosting oil. Sectors previously left behind, such as energy,…
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EUROPEAN SHARES European markets slid lower at the open on Friday, continuing the corrective move registered yesterday on most benchmarks, as a risk-off mood prevails. Spikes in virus infections added to the lack of progress regarding the new stimulus package in the US is a perfect occasion for investors to take some profits ahead of…
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EUROPEAN SHARES The stock market showed signs of slowing down in Europe on Thursday, despite a bullish correction in Chinese tech shares overnight, as the initial enthusiasm over a vaccine starts to wane. The worsening virus situation in many hotspots is weighing on market sentiment as it sparks fears of tougher containment measures that could…
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OIL The good times for oil are continuing with risk on is still dominating. There is widespread optimism on markets even if in early trading today we have seen some investors taking profit after the large gains of the last few days. Investors are now seeing Covid-19 matter as something that won’t affect global oil…
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GOLD The gold price was hit yesterday by news of the almost imminent release of a Covid-19 vaccine. Investors are now betting on a shorter crisis than previously expected with the coronavirus curse seemingly over within 12 months but is there too much optimism? Markets reacted with significant rallies in all sectors, while bullion sharply…
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The very high volatility in the middle of last week was consistent with what would typically be expected during the count of a presidential election. The downward movement became clear on Wednesday, with a clear break below the 61.8% weekly Fibonacci retracement area. Price is now testing the upper limit of the weekly Fibonacci fan…
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EUROPEAN SHARES European benchmarks consolidated on Friday following a mixed opening, while a similar trend has been registered by Asian stocks. Market participants chose to temper their investments for the last trading session of the week, following four days of solid rally. Votes are still being counted in some of the key US swing states…
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EUROPEAN SHARES Asian shares and US Futures rose overnight while European markets also opened in the green, with benchmarks boosted by the tech and healthcare sectors. Investors remain uncertain about the future of the US presidency and more broadly about the future of the US economy as a divided Congress and Senate would prevent any…
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DOLLAR AND GOLD We have seen the dollar strengthen and this has triggered some selling on the majority of commodities, including gold and silver. Investors are in risk off mode, but they are not yet buying gold. They are looking for clarity before taking positions, trying to predict what will be the next major movement…
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