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2019

Gold hovers around 1900, WHO concerns reg rising COVID casesGold price continue to trade in a narrow range hovering near the $1900 levels amidst a steady dollar, fading chances of a new U.S. fiscal stimulus package being finalized before the November elections. US Treasury Secretary Steve Mnuchin said he and House of Representatives Speaker Nancy Pelosi were "far apart" on another coronavirus economic relief package, that would be hard to reach before Nov 3 election, which is not a good news for gold prices. IMF’s latest global growth forecast which sowed a contraction of -4.4% v/s - 5.2% in June also put pressure on gold prices. On other hand, WHO has shown concerns regarding the rising Covid cases, in fact Europe have even decided to take certain measures to contain the spread of the virus, hence providing some support for the metal. Market participants will be keeping an eye on the weekly jobless claims data expected from the US which if reported better expectation could support the metal at lower levels. Technically, Gold hovering around 1900 area with h4 ma50 at 1902 as a pivot and day ma50 at 1929 as resistance with support at 1882 yesterday low. Sustaining in asian session above 1902 could test again yesterday high 1912.94 a break can test the day ma50 at 1929 with a hurdle at 1920 meanwhile. Overall untill it stays above 1880 is a buy on dips strategy. For the day we advise buy on dips is advised. Suggestion: BUY GOLD FROM 190001 SL BELW 1885 TGT 1916 AND 1920 ELSE SELL BELOW 1885 TGT 1865 SL ABV 1903
OANDA:XAUUSDLong
by OfficialYaMarkets
WTI edged lower on hopes faded on stimulus, eyes on EIA dataCrude oil prices nudged lower as hopes faded for another round of U.S. fiscal stimulus before Nov election along with a strong dollar which kept pressure on price. House Speaker Nancy Pelosi rejected proposal from Senate Republican leaders for a smaller scale approach to new stimulus and demanded a revamped offer from the White House. Prices however got some boost after Chinese customs data showed crude imports in Sept were up over 2% MoM to about 11.8 Mbpd in Sept, signaling improving demand in Asia’s biggest economy. IEA reported in its World Energy Outlook that in its central scenario vaccines could mean global economy rebounds in 2021 and energy demand recovers by 2023. But under a delayed recovery scenario, it said energy demand recovery is pushed back to 2025, while OPEC also forecast slower demand recovery in their monthly report. OPEC+ are due to hold a monitoring meeting on Monday with UAE ministers giving bearish signals at Intelligence Forum, reporting that OPEC+ is planning to ease output cuts by 2Mbpd in Jan which can further increase the glut at a time demand recovery is stalling. Markets await weekly U.S. oil inventory data due tomorrow. Suggestion: BUY WTI OIL FROM 40 SL BELOW 39.45 TGT 40.60/41.15 ELSE SELL BELOW 39.40 SL ABV 40.70 TGT 38.80
TVC:USOILLong
by OfficialYaMarkets
Gold around 1900 on firm dollar and lack of clarity on stimulus!"Confusion", "anxiety", "excitement", are just a few words depicting the market emotions and movement of yesterday. There has been a series of updates which are contributing to the market volatility. Gold is hovering around the $1900 level amidst, a firm dollar and lack of agreement on the new Covid relief bill. Also IMF released their global growth forecast report, which showed a contraction of -4.4% v/s -5.2% in June, denting the appeal for safe haven. On other hand, expectation for a Covid19 vaccine took a backseat after Johnson & Johnson and Eli Lilly and Co. paused vaccine trials, limiting some losses for gold. Global finance leaders said the world economy had escaped a coronavirus-triggered collapse so far, but warned that failure to conquer the pandemic, maintain stimulus and tackle mounting debt among poor nations could crush fragile recovery. Market participants will continue to focus on these important updates, and it is advised that a cautious approach is maintained. A $1,916 retest on the H4 today could be enough to spark buying, considering we’re coming from weekly support at $1,882. The H4 resistance at $1,941 serves as a logical upside target for longs, and somewhere fresh sellers may make a show, having noted the H4 and daily confluence. Suggestion: BUY GOLD FROM 1904-05 SL BELOW 1880 TGT 1925 ELSE SELL BELOW 1875 TGT 1850 SL ABV 1885
OANDA:XAUUSDLong
by OfficialYaMarkets
1
S&P 500 EEUU 500Hello good morning I hope you’re right. A few days ago I published this idea to you, to this day it is the same I have only modified trend and lines by market movement. In the comments, in the 2 comments that our brokers commented that it would follow the second trend, The fall BEARISH . We believe that in the short term you will see high volatility whit corrections... but in the middle term we’re BULLISH and in the long run we’ lo see. LEAVE YOUR OPINION In the comments 1 or 2, and how they are positioned in short, medium up to elections, and long. Sincerely L.E.D In Spain at 13/10/2020
UShort
by wallstreetstocks
Sterling finished on high against US dollarSterling finished the European session on a high note against the US dollar on Monday, despite UK PM Boris Johnson announcing new restrictions in order to help curb the surge in coronavirus cases. Technically, the H4 timeframe tested an interesting area of resistance between 1.31/1.3064 , composed of the 1.31 handle, resistance from 1.3064, August’s opening value at 1.3078 and channel resistance, drawn from the high 1.2929.In terms of resistance, price has room to advance as far north as the 2020 yearly opening value at 1.3250. What’s more, the daily timeframe is seen making headway north of resistance at 1.3017, with eyes on resistance at 1.3200.Clearance of 1.31 on the H4, as a result of the above, might have breakout buyers make an appearance, targeting the 1.32 handle, which also represents daily resistance. Suggestion: BUY GBPUSD AT CMP 1.3045 ADD TILL 3030 FOR TGT 1.3095/3130 SL BELOW 1.2970 ELSE SELL BELOW 1.2970 TGT 1.2940/2920 SL 1.3030
Long
by OfficialYaMarkets
SPHealth 2 Week Comparisons (Oct 7-20 2020)SPHealth - Growth Analysis & Comparison - Cindicator Poll Submission (October 7th - 20th 2020) I've been looking through my Cindicator questions, making forecasts and watching markets as new polls pop up. Here's a comparison chart for 5 major S&P health companies and my rankings forecast. (Descending order from most growth to least) United Health Group Inc (UNH) Abbott Labs (ABT) Johnson & Johnson (JNJ) Pfizer Inc. (PFE) Merck & Co. (MRK) This forecast will be explicitly graded by total growth % comparisons of opening prices on October 7th to closing prices on October 20th across the 5 aforementioned companies. As of right now before 10-9-20 daily market open, the percentage growth is as follows: UNH +1.9% PFE +1.87% JNJ +1.56% ABT +1.1% MRK +0.54% When looking at a specific metric within the already completed duration since I submitted my forecast, overall recent growth is: UNH +2.82% PFE +2.66% JNJ +2.24% MRK +2.22% ABT +1.62% 10-9-20 Forecast Adjustments: Now that I have seen the last 2 days play out, I'm starting to notice a couple things about my forecast and actual live value. I'm confident that United Health will still outperform, but this outlook could change if any major market sell off occurs before the 20th. Pfizer looks like it could be a strong runner up, and I may have flubbed my original forecast by ranking it 4th in growth. Johnson & Johnson is performing approximately as expected. Merck and Abbott Labs could be tricky to pinpoint exactly without some further research and analysis but, I'm guessing that Abbott may come in 4th place if everything settles after any quick rallies that should happen. If a light pump in Merck occurs over the 19th-20th, then there could be a small chance it outperforms Abbott for 4th but it feels like an unlikely scenario. After these deliberations, I've decided my forecast doesn't need much adjusting other than to swap the placement of Pfizer and Abbott. My updated forecast is as follows: United Health Group Inc (UNH) Pfizer Inc. (PFE) Johnson & Johnson (JNJ) Abbott Labs (ABT) Merck & Co. (MRK) One thing to note is that I believe TradingView is not calculating its percentage scale correctly, its placing the 0% Y axis at the close value of the first candle used to calculate growth. So this graph is really just more for me to check my own work by hand, as the percentages on the left will not accurately portray what is actually being graded by Cindicator. I'll check back in after the 20th to see how this turned out! Thanks for tuning in :) Disclaimer, I am not responsible for any losses incurred while attempting to use my data, I hope this can prove to be some sort of learning tool for some and give insight as to how I personally come up with my own numbers. Take into full consideration this could be a completely bad forecast. Cheers
NYSE:UNH
by Hambooger
WTI rose on support from output shutdowns ahead of storm in USCrude prices edged higher, touching levels of $43 on support from output shutdowns ahead of a storm in the U.S. Gulf of Mexico and prospect of supply losses in Norway along with hopes for some U.S. COVID relief aid supported prices. Prices got supported after reports of Saudi Arabia considering reversing course over OPEC’s planned production increase early next year which is definitely a positive for the markets. Optimism over additional fiscal support in U.S. resurfaced, but the back and forth between policymakers could see volatility linger for a while yet. For Norway, Oil firms and labor officials might meet with a state-appointed mediator today in an attempt both sides hope will bring an end to a strike that threatens to cut Norway’s output by some 25%. On Hurricane front, Oil workers have withdrawn from U.S. Gulf production facilities as Hurricane Delta was forecast to intensify into a powerful, Category 3 storm. Nearly 1.5 Mbpd of daily output was halted and forecast indicates that markets can lose almost 5MB in this storm, supporting prices. The crude oil supply events along with positive talks for Stimulus will keep prices supported for coming session. Suggestion: BUY WTI OIL FROM 40.55-60 SL BELOW 40 TGT 42 ELSE SELL BELOW 39.50 TGT 38.70 SL ABV 40.60
TVC:USOILLong
by OfficialYaMarkets
Will EURO fly again post muted session on Thursdayt was a relatively muted session for EUR/USD Thursday, capped under August’s opening value at 1.1771 on the H4 timeframe. An attempt to draw in fresh bids off October’s opening value at 1.1730 was seen, though price fell short at lows from 1.1732. Overhead, trend line resistance, taken from the high 1.1917, and the 1.18 handle is visible. Beyond here, we do not see much on offer until Quasimodo resistance at 1.1888. Below 1.1730, nevertheless, 1.17 is likely to call for attention. Suggestion: BUY EURUSD FROM 1.1755-60 SL BELOW 1.1710 TGT 1.1800 ELSE SELL BELOW 1.1700 TGT 1.1640/1600
Long
by OfficialYaMarkets
Sterling ahead of 1.3015, level which should mindful again::Thursday, as can be seen from the H4 chart, retested the 1.29/channel support (1.2805) combination and held firm, printing a close back above October’s opening value at 1.2925. This has potentially transferred energy back towards the key figure 1.30 ( surrounded by H4 resistance at 1.3009 and daily resistance at 1.3017).017/1.30 resistance (red area on the H4) remains a zone to be mindful of. The break back above October’s opening value at 1.2925 is likely to spark intraday bullish scenarios to 1.30. Violating 1.29 and channel support (H4), extended from the low 1.2805, would help confirm bearish strength south of daily resistance at 1.3017 and may see H4 hone in on 1.28, which happens to merge closely with daily trend line support coming in from the low 1.2075.
Long
by OfficialYaMarkets
1
Gold bottomed out post Trump asked Nancy to review stimulus billGold prices edged higher in the early morning session, supported by a weaker dollar and optimism over a new U.S. coronavirus relief aid after resident Donald Trump said talks with Congress have restarted. Giving a contrary statement as compared to few days back, President Trump said there was a good chance a deal over COVID-19 relief could be reached, but gave no other details about a possible agreement. Market participants today will focus on the policy meet scheduled on the domestic front and expectation is that the central bank could maintain rates unchanged but importantly investors will be keeping an eye on the stance that RBI adopts for inflation. Gold-backed exchange traded funds added more than 1,000 tonnes of bullion worth $60 billion at current prices to their stockpile in the first nine months of 2020, driving a sizzling price rally, according to World Gold Council (WGC). Technical: Gold trading at 1910 in asian session rose about 0.85% from the recent low 1872. H4 perceptive, we observed head and shoulders pattern where the break is needed above 1916 for the same to rise till 2000 as per pattern calculation, with a hurdle at 1922 or 200ma. Trading above 1900 is the one where one can make every dip as a buy on every dip till it holds above. Downside a break below recent low 1871 can test the 1845 which is daily support. For the day perceptive one can wait for the drop till 1900-04 zone for fresh buys witha 1902 as day support and 1893 as a pivot which tested already. Overall buy on dips is advised for the day. Suggestion: BUY GOLD FROM 1902-04 L BELOW 1885 TGT 1922 ELSE SELL BELOW 1885 TGT 1871/1865 SL ABV 1905
OANDA:XAUUSDLong
by OfficialYaMarkets
Crude firm as EIA showed that fuel demand improvedWTI Crude prices dipped over 1.7 percent to close at $40.2 per barrel as surge in U.S. Crude inventory levels clouded the demand outlook for Crude; however, lingering supply worries limited the fall. As per reports from the Energy Information Administration, U.S. Crude inventory levels rose marginally by 501,000 barrels in the week ending on 2 nd October’20. However, the losses were limited as Hurricane delta rapidly approached the U.S. Gulf coast forcing the energy companies to shut around 17% of total U.S. crude output in an attempt to avoid any damage. Failed wage talks between the union and the Norwegian Oil and Gas Association (NOG) triggered a strike leading to the closure of Six Norwegian offshore oil and gas fields. More number of workers going on strike over the wage issue risked an output of 330,000 barrels of oil per day alos supported Oil prices. Suggestion: BUY USOIL FROM 40 SL BELOW 39.40 TGT 40.50/40.90 ELSE SELL BELOW 39.40 TGT 38.80/60 SL ABV 40.20
TVC:USOILLong
by OfficialYaMarkets
Sterling could dive down again on Brexit, new lockdown measuresBank of England policy maker Jonathan Haskel said he’s prepared to back more monetary support for the U.K. if necessary as he warned that the near-term risks to the economy lie to the downside. He also signaled he’s supportive of negative interest rates as a policy tool, noting research that suggests it may have had a positive effect elsewhere. Prime Minister Boris Johnson is reportedly considering new restrictions to cope with rising COVID-19 infections. More and more cities in England and Scotland are slapping new measures on their residents. Technically GBPUSD correlating positively to dollar, as dollar sideways to strong so far this pair facing resistance at every high. For now , 1hr chart suggesting a pair will test the fib 61.8% level at 1.2950-55 which is the day resistance 1 too. Earlier it was faced resistance many times at same zone which could resist today also. One can wait for that level and initiate the sells from there to the downside 1.2895 or 50ma followed be 1.2845 oct 7th low. Overall sell on rise is advised.
Short
by OfficialYaMarkets
Gold on mixed note as mixed statements reg stimulus bill ::Gold prices were steady as mixed statements regarding the new Coronavirus relief bill, kept the bullion afloat. Top White House officials downplayed the possibility of more coronavirus relief, while House Speaker Nancy Pelosi disparaged U.S. President Trump for backing away from talks on a comprehensive deal. U.S. Federal Reserve policymakers split over how to apply a new strategy for monetary policy at their September meeting, and, amid growing doubts about the path of the economy, offered no clear sense of their next steps to offset the coronavirus recession, minutes from their September meeting showed. Apart from BOE and ECB meeting minutes scheduled later in the day wherein comments from their respective Governors will be important to watch for, market participants will also focus on the US weekly jobless claims data; if recorded better than expectations it could support the metal prices. Technical: we like to monitor H4 support at $1,871 today. A H4 close below $1,871 could trigger bearish scenarios to H4 support at $1,835, which sits just under daily support at $1,841 (the next downside target on the daily timeframe). A decisive rebound from $1,871, nevertheless, suggests the pendulum may swing in favor of weekly bulls off support at $1,882.
OANDA:XAUUSDShort
by OfficialYaMarkets
COVID19 AND THE VIX -- daily Ichimoku cloud breaksin the recent past, when we see a Ichimoku Cloud break in the VIX ( Volatility S&P 500 Index ) we see a strong acceleration upwards. The most recent example of this was on 13 Feb 2020 Inversely proportional to the VIX , the S&P 500 Index had a significant breakdown, represented on 21 Feb 2020 Since COVID19 outbreak, governments around the world have been scrambling to control their domestic economies by stimulus and monetisation of debt stoking Global Hyperinflation, and now real people are starting to feel the economic effects of Lockdowns and COVID19 travel and border restrictions. Currently TVC:SPX is entering the cloud, and the VIX is coiling to break through the cloud. This is true for other Major Indices around the world. Northern Hemisphere is entering their "winter flu season" and USA has their contentious Presidential Election looming in NOV. This could be shaping up for a BIG BOUT of VOLATILITY....
TVC:VIXLong
by Outside_The_Box_NZ
Trump abandoned stimulus talks, Gold fell to one week lowGold prices on Wednesday hovered near a one-week low hit in the previous session, after U.S. President Donald Trump halted new stimulus talks, bolstering the dollar. Prospects for more aid for Americans struggling through the COVID-19 pandemic and U.S. airlines seeking to avert a wave of layoffs crumbled on Tuesday when Trump ended negotiations until after the November election. U.S. and European central bankers called for renewed government spending to support families and businesses as the battle against the coronavirus triggered recession enters a newly critical phase, giving some support to gold on lower levels. Economic calendar is fairly light today on data front, although market participants will keep an eye on the FOMC minutes scheduled later in the day, wherein comments from the fed governor will be in focus. Holdings in SPDR gold Trust, the world’s largest gold backed exchange traded fund, fell 0.32% to 1271.52 tonnes on Tuesday. Technical: H4 resistance at $1,916 held back buyers, with the candles settling the session just north of H4 support coming in at $1,871. Daily price also receded lower from resistance at $1,911, aided by trend line resistance, extended from the high $2,075. Shaped in the form of a bearish outside day reversal, the daily chart reveals scope to approach support at $1,841. While both the daily and H4 timeframes eye lower levels, traders might want to take into account that weekly price remains circling a support level at $1,882. In addition to this, the trend in this market has faced decisively north since 2016. Sellers are likely monitoring H4 support at $1,871 today, as a push through here shines the spotlight on H4 support at $1,835, which sits just under daily support at $1,841 (the next downside target on the daily timeframe). Consequently, a H4 close below $1,871 could trigger bearish scenarios, while a decisive rejection from $1,871 suggests the pendulum may swing in favour of weekly bulls off support at $1,882.
OANDA:XAUUSDShort
by OfficialYaMarkets