The 261.8% Fibonacci extension around $129 remains in focus as the key resistance. A breakthrough above this remains highly unlikely unless there’s a significant change in fundamentals. $100 is the main psychological area below which might also drive a bounce if it were to be tested this week. With no signal of saturation and ATR…
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For the time being, the bias based on TA still seems to be towards the upside but a clear breakout above $1,800 might still be some way off. The latest attempt to move above this important psychological area was rejected on Friday, and with activity likely to drop in the runup to Christmas there probably…
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The current channel is narrow with $1,770 and $1,800 remaining in view as likely boundaries. The bias for gold based on fundamentals seems to be towards buying unless the Fed is very hawkish on Wednesday, but TA remains noncommittal. All three moving averages are above the price and momentum upon emergence from oversold (based on…
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EUROPEAN SHARES Shares traded higher at the beginning of Thursday’s trading session in Europe with all sectors opening in green territory, led by health care. This boost to market sentiment comes after investors were fuelled with hopes of a fresh stimulus package in the US. However, traders of European shares face a busy morning following…
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EUROPEAN SHARES Stocks opened mostly lower on Thursday in Europe amid weaker market sentiment following mixed developments on multiple fronts. Rising US-Sino tensions, increasing virus cases on the old continent and the recent batch of mixed macro data are some of the clouds darkening the sky for investors at the moment. As previously said, there…
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EUROPEAN SHARES Eurozone share markets from Stockholm to Madrid opened higher on Wednesday as bullish momentum over riskier assets gained a fresh boost from Washington. Investors welcomed the progress made in discussions between US Republicans and Democrats about a new recovery package, especially after the US Treasury Secretary said he wanted a deal reached by…
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EUROPEAN SHARES European shares opened lower on Monday as market sentiment remains subdued with stock traders bracing for another busy week. The deadly virus is still having a strong impact on markets despite the global monetary and fiscal response. Increasing COVID-19 cases around the world recently have led to some renewed lockdown and quarantine measures,…
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EUROPEAN SHARES Stocks opened slightly higher in most European markets on Thursday, retracing some of yesterday’s losses while market sentiment remains mixed and directionless on a very short-term basis. Even if most bullish trends remain valid on European benchmarks so far, especially on the DAX-30 Index, lingering concerns over the uncertainty on the timing of…
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EUROPEAN SHARES Stocks slid slightly lower in the old continent on Wednesday, following the trend set overnight in Asia, as a risk-off trading stance is emerging amid growing uncertainty. Even if most stock indices achieved fresh highs this week, boosted by the agreement on the EU recovery package, market sentiment is becoming increasingly weighed down…
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EUROPEAN SHARES European shares continue to trade higher on Wednesday, alongside Asian equities and US Futures, as vaccine hopes keep on fuelling the market’s current bullish sentiment. Moderna’s promising results from its vaccine trial have helped sustain market sentiment today, and this optimism even offset new cases of the virus spotted around the world. However, the…
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