XAUUSD: BUY 4560.00, SL 4530.00, TP 4650.00
Gold starts the week near $4,560 per ounce and is supported by a weaker US dollar. Investors are assessing the prospects of a US-Iran agreement on the Strait of Hormuz: lower oil prices reduce inflation risks and partly ease the pressure of high interest rates on the metals market.
Demand for safe-haven assets remains in place, as a quick outcome to the negotiations is not guaranteed. If the dollar stays under pressure and market participants continue to price in a softer inflation backdrop due to falling oil prices, XAU/USD may keep the advantage on the buyers’ side during the week.
Trading recommendation: BUY 4560.00, SL 4530.00, TP 4650.00
#SP500: BUY 7475, SL 7415, TP 7655
The S&P 500 starts the week near 7,475 points after steady growth in the US stock market. The index is supported by improved investor risk sentiment, oil falling below $100, and demand for technology stocks following strong corporate earnings.
The main factor limiting growth is the high yield on US Treasury bonds and the Fed’s caution due to inflation. However, if Middle East negotiations continue to reduce energy risks, #SP500 still has room for moderate growth.
Trading recommendation: BUY 7475, SL 7415, TP 7655
#BRENT: SELL 98.30, SL 101.30, TP 89.30
Brent starts the week near $98.30 per barrel after a sharp decline. Pressure on the price increased due to expectations of a US-Iran agreement, which could open the way for the restoration of shipments through the Strait of Hormuz and reduce the risk premium in oil prices.
The market is still taking into account the possibility that negotiations may fail, so upward rebounds are possible. However, the basic weekly background is shifting toward a decline: if supply concerns ease and demand remains cautious, Brent may continue moving lower.
Trading recommendation: SELL 98.30, SL 101.30, TP 89.30
Gold starts the week near $4,560 per ounce and is supported by a weaker US dollar. Investors are assessing the prospects of a US-Iran agreement on the Strait of Hormuz: lower oil prices reduce inflation risks and partly ease the pressure of high interest rates on the metals market.
Demand for safe-haven assets remains in place, as a quick outcome to the negotiations is not guaranteed. If the dollar stays under pressure and market participants continue to price in a softer inflation backdrop due to falling oil prices, XAU/USD may keep the advantage on the buyers’ side during the week.
Trading recommendation: BUY 4560.00, SL 4530.00, TP 4650.00
#SP500: BUY 7475, SL 7415, TP 7655
The S&P 500 starts the week near 7,475 points after steady growth in the US stock market. The index is supported by improved investor risk sentiment, oil falling below $100, and demand for technology stocks following strong corporate earnings.
The main factor limiting growth is the high yield on US Treasury bonds and the Fed’s caution due to inflation. However, if Middle East negotiations continue to reduce energy risks, #SP500 still has room for moderate growth.
Trading recommendation: BUY 7475, SL 7415, TP 7655
#BRENT: SELL 98.30, SL 101.30, TP 89.30
Brent starts the week near $98.30 per barrel after a sharp decline. Pressure on the price increased due to expectations of a US-Iran agreement, which could open the way for the restoration of shipments through the Strait of Hormuz and reduce the risk premium in oil prices.
The market is still taking into account the possibility that negotiations may fail, so upward rebounds are possible. However, the basic weekly background is shifting toward a decline: if supply concerns ease and demand remains cautious, Brent may continue moving lower.
Trading recommendation: SELL 98.30, SL 101.30, TP 89.30
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
More analytical information and promotions on FreshForex website cutt.ly/LrP6j9qD
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.