SUMMARY

  • The price of WTI closed yesterday with a rise of +1.49%, driven by the contraction in supply in the Middle East, caused by the conflicts in the Red Sea.
  • After a start to the week marked by high volatility, Wall Street stock indices closed negative. The Dow Jones corrected -0.16% yesterday. Currently, the index corrects -0.09% and is trading at 39,032 points.
  • USDCHF closed yesterday with a -0.17% correction. Currently, it is sideways above the 0.8800 area. The weekly objective is for the currency to close the week above 0.9000.

WTI

Specifications

  • Leverage: 50
  • Units: 1.000
  • Margin requirement: USD$1,519
  • Example: USD$1 change in WTI price = USD1000 potential PL.
  • Support 1: 77,47
  • Support 2: 77,40
  • Resistance 1: 77,61
  • Resistance 2: 77,68

Fundamental Analysis

  • The price of WTI closed yesterday with a rise of +1.49%, driven by the contraction in supply in the Middle East, caused by the conflicts in the Red Sea. At the moment, the price corrects -0.12% and is trading at $77.50 per barrel.
  • Oil activity in Libya resumed after the protests ended.
  • According to Goldman Sachs analysts, the price of WTI could reach $87 per barrel in the summer.
  • Denmark has dropped the investigation into Nord Stream sabotage.
  • Despite the escalation of the conflict in the Middle East, Israeli exports of natural gas are increasing.
  • WTI price is above the 40-day moving average and looking to surpass the pivot point to rise towards the resistance zone. The weekly target is $82.50.

Dow Jones

Specifications

  • Leverage: 50
  • Units: 1
  • Margin requirement: USD$782
  • Example: movement of 100 points = $1,000 potential PL.
  • Support 1: 39.038
  • Support 2: 39.011
  • Resistance 1: 39.117
  • Resistance 2: 39.169

Fundamental Analysis

  • After a start to the week marked by high volatility, Wall Street stock indices closed negative. The Dow Jones corrected -0.16% yesterday. Currently, the index corrects -0.09% and is trading at 39,032 points.
  • In the United States, the number of construction permits reached 1.48 million, exceeding market expectations and indicating an increase in demand.
  • Sales of new homes in the country, however, amounted to 661,000, compared to the 680,000 expected. In other words, demand is growing, but not at the expected rate.
  • The 2-year T Notes in the US show a yield of +4.691%. While the 5-year Notes are at +4.320%.
  • Durable goods orders in the United States are expected to decline by -4.7% in a month, which could encourage the FED to accelerate the interest rate reduction program.
  • The Dow Jones continues in the resistance zone, seeking to climb towards 40,000 points.

USDCHF

Specifications

  • Leverage: 100
  • Units: 100,000
  • Margin requirement: USD$999
  • Example: movement of 100 pips = $1,000 potential PL.
  • Support 1: 0,8798
  • Support 2: 0,8795
  • Resistance 1: 0,8804
  • Resistance 2: 0,8807

Fundamental Analysis

  • USDCHF closed yesterday with a -0.17% correction. Currently, it is sideways above the 0.8800 area. The weekly objective is for the currency to close the week above 0.9000.
  • The price remains above the 40-day moving average, maintaining the coin’s uptrend while seeking resistance at 0.8910.
  • The Central Bank of China continues to buy large quantities of gold, becoming one of the largest buyers in the world.
  • Swiss watch exports increased by 3.1% in one month. However, analysts show a drop in demand worldwide. Watch exports totaled $2.9 billion last month.
  • Switzerland and India have signed a free trade agreement. 16 years of negotiations resulted in the signing of the agreement.
  • USDCHF is above the 40-day moving average, looking for continuity above the resistance zone.

SOURCES

  • Thomson Reuters
  • Market watch
  • Bloomberg
  • Tradingview

 

Risk Disclaimer

Any information/article/material/content provided in this document is intended to be used for educational purposes only and does not constitute investment advice or consultation on how the client should trade.

While the authors have ensured that the content of such information is accurate, they are not responsible for any omissions/errors/miscalculations and cannot guarantee the accuracy of any material or any information contained therein.

Therefore, any reliance you place on such material is strictly at your own risk. Please note that the responsibility for using or relying on such material rests with the customer and the company accepts no liability for any loss or damage including, without limitation, any loss of profit which may arise directly or indirectly from the use of or reliance on such information.