GOLD Gold is still trading inside its mid-term bullish channel, above the support at $1,808 as well as the 89 period Exponential Moving Average (EMA) despite an increase in risk appetite. It is not so usual to see “risk-off” assets edge higher even as stocks and other riskier assets trade near record levels as the…
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OIL Black gold keeps on trading inside its mid-term bullish channel today despite its failure to clear the $73.85 level last week. The current rebound over the lower band of the bullish channel at $72.30 isn’t reassuring investors as it remains limited compared to the recent 2% correction. Despite a decreasing US dollar providing fresh…
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GOLD Gold is little changed this Friday, holding on to the previous session’s gains and remaining close to multi-week highs. As the realization that the US Federal Reserve is unlikely to tighten its policies anytime soon sinks in, the outlook for the US dollar turns into bearish territory. The greenback typically moves inversely in relation…
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GOLD Gold is up during early Thursday trading, reflecting the losses of the US dollar due to the inverted correlation between the two assets. The greenback’s weakness resulted from dovish comments made by the Fed’s chairman, Jerome Powell, who pushed back on the timing of rate hikes and asset purchases tapering, highlighting concerns over the…
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OIL The price of Oil is proving resilient to current market drivers. Investors are betting on further recovery in demand and are still seeing some inflation risks. The combination of these two factors, along with the US data regarding oil inventories released by the American Petroleum Institute, showing a decline of supply, are supporting the…
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OIL Investors remain bullish on the whole commodity sector and oil is proving no exception with further gains today. Moreover, the cyber-attack which has hit Colonial Pipeline is generating further buying. The technical scenario remains supportive as the combination of expectations of economic recoveries and inflation fears are pulling up the price of both WTI and Brent.…
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EUROPEAN SHARES The bullish mood prevails in Europe on Wednesday amid higher market volatility, following yesterday’s strong sell-off on tech shares. Most European benchmarks edged higher, boosted by travel, miners and other energy shares as the old continent forms its plan to reopen its borders to vaccinated tourists, which is helping boost demand in those…
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GOLD Having failed to break through the psychological barrier of $1,800 last week, gold is now in a lateral phase between the major support at $1,750 and resistance at $1,800. The slight dip in price mirrors the small recovery on the yield of US 10-Year Treasuries and this along with the recent gains by the…
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GOLD Despite a modest rebound by the greenback, gold continues to recover momentum. This seems to be mostly related to the relative calm that we are seeing on US yields, as the 10 years bonds remain below 1.6%. Moreover, in the last few weeks the technical scenario has clearly improved with the price breaking through…
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GOLD We are picking up where we left off last week with gold: the precious metal is consolidating its recovery as the EUR/USD exchange rate jumped above 1.20. US yields are continuing to weaken and this scenario is supportive for bullion, as the negative correlation with the greenback remains in place. After surpassing $1,750, gold…
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