GOLD The support zone of $1,675 worked perfectly for gold, generating a solid rebound. As well as this technical support, gold’s rebound was also helped by a slight decline in US yields, while some short traders probably decided to take profit, closing or reducing their bearish bets on gold. So far, the main trend has…
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GOLD Gold extended its loss and tested the key support zone of $1,675. This level generated a small rebound, pulling the price up to $1,685. The main trend remains bearish and a clear break down of the support at $1,675 could open space for further declines while only a recovery to $1,750 would reverse the…
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GOLD The financial environment has once again proven detrimental for gold as a mix of bearish ingredients have pulled the price down to $1,700. Indeed, the combination of a strong US dollar and expectation for rising yields, in conjunction with Joe Biden’s optimism on the vaccine rollout, have caused bullion to fall again with investors…
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From a technical perspective, oil’s uptrend since last summer is clearly still active for now. Brent has failed to break below the 50 SMA from Bands, and there is currently no indication of overbought from either Bollinger Bands (50, 0, 2) or the slow stochastic (15, 5, 5). The key area on this chart for…
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OIL The blockage of the Suez seems to be solved in the short term, which is positive news for the majority of financial assets, but not for oil. As a result, the barrel has started the new week in red as investors are less worried about supply. Focus now switches to the OPEC meeting, which…
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The United States Attorney’s Office for the Easter District of New York announced this week that Instagram influencer “Jay Mazini”, whose real name is Jegara Igbara, has been charged with wire fraud. The charges were related to a Bitcoin scheme where the social media influencer is alleged to have persuaded his followers to send him…
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EUROPEAN SHARES Stocks managed to edge slightly higher in Europe on Thursday, despite a bearish opening amid lingering macro uncertainty. Inflation worries, virus spikes and political tensions continue to pressure market sentiment this week while bullish investors increasingly struggle to find positive catalysts. Most stock traders are now trying to identify shares and sectors with…
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EUROPEAN SHARES European markets extended yesterday’s losses by opening lower on Wednesday, amid a lingering risk-off mood. Jerome Powell attempts to play down the threat of unwanted inflation wasn’t enough to sustain investors’ appetite for riskier assets while renewed lockdowns in Europe amid spiking infections continue to pressure stocks. However, even if cyclical and energy…
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From a technical point of view, gold’s downtrend is still active, with the 100 SMA having moved further below the 200 and a new low having been reached on 8 March. Now that there is no longer an oversold signal from either Bollinger Bands (50, 0, 2) or the slow stochastic (15, 5, 5) -…
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EUROPEAN SHARES European shares opened lower on Tuesday, extending the bearish trend seen in Asia amid progress slowing in the fight against the pandemic. Today’s risk-off trading stance came after investors digested the prospect of an extended lockdown in Germany due to increasing virus cases in the region, which could significantly jeopardize the nascent economic…
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