SUMMARY

  • The CPI in Switzerland increased by +0.6% monthly. In Tokyo, the CPI was 2.5% annually. Retail sales in the United Kingdom increased by 1% year-on-year.
  • The price of WTI closed yesterday with a -1.50% correction due to weak growth in physical demand in the market. Currently, the price corrects -0.32% and is trading at $78.49 per barrel.
  • The S&P500 closed yesterday with a drop of -0.20%. Currently, the index corrects -0.15% and is trading at 5123.

GOLD

Specifications

  • Leverage: 50
  • Units: 100
  • Margin requirement: USD$4161
  • Example: movement of USD$10 = $1,000 potential PL.
  • Support 1: 2109,92
  • Support 2: 2107,06
  • Resistance 1: 2116,27
  • Resistance 2: 2119,76

Fundamental Analysis

  • The CPI in Switzerland increased by +0.6% monthly. In Tokyo, the CPI was 2.5% annually. Retail sales in the United Kingdom increased by 1% year-on-year. Japan’s services PMI stood at 52.9, exceeding market expectations and placing it in the economic expansion zone.
  • The US services PMI is expected to reach 51.3. For its part, the ISM non-manufacturing PMI is expected at 52.9.
  • Australia’s GDP is expected to grow by at least +1.5% annually. Retail sales in the country are expected to increase by +1.1%.
  • Investors continue to accumulate long positions in gold, mainly in anticipation of the NFP results. Yesterday gold closed with an increase of +1.51%.
  • The price is above the 40-day moving average, looking for continuity above the $2,120 area. The Bulls do not rule out closing the week at USD 2,200.

WTI

Specifications

  • Leverage: 50
  • Units: 1.000
  • Margin requirement: USD$1,519
  • Example: USD$1 change in WTI price = USD1000 potential PL.
  • Support 1: 78,34
  • Support 2: 78,21
  • Resistance 1: 78,64

Fundamental Analysis

  • The price of WTI closed yesterday with a -1.50% correction due to weak growth in physical demand in the market. Currently, the price corrects -0.32% and is trading at $78.49 per barrel.
  • The Indian government seeks to promote investments of 5 billion dollars for the development of a gas pipeline in the north of the country.
  • The European Union is encouraging fossil fuel companies to contribute to the climate change fund.
  • The Chinese government has set a GDP growth target of 5% annually. The country is the largest buyer of oil in the world, so if the country grows at this rate, the demand for crude oil would also increase.
  • The WTI price is below the 40-day moving average and leaves the resistance zone. The price could correct towards the first support of $78.02 per barrel.

S&P500

Specifications

  • Leverage: 50
  • Units: 1
  • Margin requirement: USD$102
  • Example: movement of 100 points = $1,000 potential PL.
  • Support 1: 5120,5
  • Support 2: 5119
  • Resistance 1: 5123,5
  • Resistance 2: 5125

Fundamental Analysis

  • The S&P500 closed yesterday with a drop of -0.20%. Currently, the index corrects -0.15% and is trading at 5123.
  • More than 90% of S&P500 companies have presented their financial results. The overall earnings per share of the index increased +8.5% annually. However, companies’ net profits fell by -1.5% annually. The main contributors to the good results were the big seven technology companies.
  • 70% of the companies that make up the S&P500 exceeded market expectations.
  • Analysts are assessing whether the index is too concentrated in the big seven technology companies. The oil and gas sector also recorded strong growth in sales and profits.
  • The S&P500 is below the 40-day moving average, but at the same level as the lower Bollinger band, which may indicate a price rebound.

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.