From a technical perspective, support around $1.35 has yet to be clearly broken. Despite the recent movement below both the 50 and 100 SMAs, selling volume remains low this week so far and we now have clear oversold signals from both the slow stochastic (15, 5, 5) and Bollinger Bands (50, 0, 2). Both of…
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OIL AND GOLD The week has started with some recovery signals from the greenback, while stock markets are taking a small pause after the recent rallies. The main scenario remains positive (we could say “risk on”), but we are seeing some investors taking profit. All this is reflected on the prices of gold and oil.…
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EUROPEAN SHARES European markets opened higher, confirming yesterday’s gains while benchmarks head for their best weekly performance since November. This “risk-on” market sentiment spread to Europe from the US after investors welcomed the result of the run-off election in the state of Georgia that gave the Democratic party effective control of the US senate, relieving…
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Eventus Systems, Inc., a global provider of multi-asset class trade surveillance and market risk solutions, has announced that the firm experienced unprecedented growth in multiple areas in 2020, marking its strongest year to date in revenue and new client onboardings. The company has additional expansion plans for 2021, with deeper penetration in asset classes such…
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OIL The demonstrations seen in Washington had little impact on the oil price, generating a quick fall to $49.50 for the WTI benchmark, which was easily absorbed by the markets. The price has since jumped strongly back above $50 and in the first few hours this morning continued the recovery, reaching $51 while Brent is…
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OIL The oil price is rebounding on the unexpected outcome of the OPEC+ meeting. The real surprise was Saudi Arabia announcing a voluntary cut of 1 million barrels a day that will be put in place over the next two months. The market reaction showed enthusiasm for the decision, with oil jumping by 5% to…
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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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