Morning Insights 16th April

Simon Alagbe

Analyst


Instrument: GOLD

Technical Analysis

Bullish Preference: Buy position is envisage if price trades above 1766.80 with take profit at 1770.19.

Bearish Preference: Sell position is envisaged if price trades below 1756.57 with take profit at 1753.55.

Fundamentals:   

Prelim UoM Consumer Sentiment (US) 3:00 PM

Comment: Gold bulls have regained poise after a brief corrective pullback to $1760. The geopolitical tensions between the US and Russia, growing covid vaccine concerns and mixed Chinese data underpin the sentiment around the yellow metal while the US dollar fades its recovery attempt. However, the XAU bulls could face an uphill battle amid the renewed strength in the US Treasury yields across the curve, as attention shifts back to the US macro news.



Instrument: US100

Technical Analysis

Bullish Preference: Buy position is envisage if price trades above 13998.08 with take profit at 14011.81.

Bearish Preference: Sell position is envisaged if price trades below 13921.46 with take profit at 13908.03.

Fundamentals:

Prelim UoM Consumer Sentiment (US) 3:00 PM

Comment: Stock futures were little changed in early morning trading on Friday after NASDAQ Composite crossed the 1400 region for the second time. During regular trading hours, the Nasdaq Composite gained over 1% on Thursday. Investor sentiment was boosted by economic data on Thursday that pointed to a rebound in consumer spending and the jobs market.

Use your preferred trading platform

Register Now


Payment Options

What Clients Say?