Analyst
Bearish Preference: Sell position is envisaged if price trades below 29837 with take profit at 29739
Bullish Preference: Buy position is envisaged if price trades above 29865 with take profit at 30048
No major economic data expected
Comment: Rapid spread of a new strain of the novel virus leading to further restrictions in countries around the world with further travel bans on the card is envisaged to weigh on the DJIA despite Congress striking a $900 billion CoronaVirus aid pact.
Bullish Preference: Buy position is envisaged if price trades above 50.56 with take profit at 50.96
Bearish Preference: Sell position is envisaged if price trades below 50.04 with take profit at 49.60
No Fundamentals
Comments: Oil has been caught in a string of bad news, as top traders and investors where caught in a global corruption scandal. Vitol Group, the world's largest oil trading firm, agreed to pay $164 million in fines and disgorgement for oil bribes in Brazil, Mexico and Ecuador. Apart from the bribery cases, there are cases that some top oil traders are in the practice of cooking books. This corruption case causes investors to panic and divests in oil, making oil to trade lower over the weekend, and the new strain of the virus may further send the commodity tumbling.
Bullish Preference: Buy position is envisaged if price trades above 1.33012 with take profit at 1.33934
Bearish Preference: Sell position is envisaged if price trades below 1.32340 with take profit at 1.31403
No Fundamentals
Comments: The cable saw a gap down on Friday. We could attribute that to the stalemate in the Br-exit negotiations, also an increase of COVID infections in the London area has added to the pessimism of the cable. The new mutated string of the virus was discovered in London and this new virus spread infection quicker. These streams of the unfortunate event made the investors selloff the cable. Also, the US Congress passed a stimulus bill late Sunday, did trigger optimism for the US economy as the much needed to boost the US economy.
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