The strong sell-off in crude means that the FTSE 100 (Strong Sell) which is heavily weighted towards oil stocks is heading towards posting a third negative week in a row.
It will be interesting to see if the S&P 500 (Strong Buy) holds positive ground for the week. It risks posting 5 successive red candles. The bar it would have to clear to post a positive weekly return is 3296. Currently trading at 3,321 there could be at least a test of that level as Presidential Covid infections and Non-Farm Payrolls come in to play on Friday.
Instrument | Hourly | Daily | |
GBP/USD | 1.2877 | SELL | BUY |
EUR/USD | 1.1723 | SELL | NEUTRAL |
FTSE 100 | 5,801 | STRONG SELL | STRONG SELL |
S&P 500 | 3,321 | STRONG BUY | STRONG BUY |
Gold | 1,905 | BUY | NEUTRAL |
Silver | 23.75 | NEUTRAL | SELL |
Crude Oil WTI | 37.42 | STRONG SELL | STRONG SELL |
Bitcoin | 10,437 | STRONG SELL | STRONG SELL |
Our analysis is based on a comprehensive summary of market data. We use a range of metrics with weighting given to simple and exponential moving averages and key technical indicators.
Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you.
Forextraders' Broker of the Month
ForexTB is generally considered a reliable and reputable firm. It offers a variety of desirable features and attracts traders from all over Europe. The brokerage is fully regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC) and is fully compliant with the European Securities and Markets Authority (ESMA). Customer reviews are usually positive, and independent industry websites that have reviewed ForexTB have concluded that the broker is safe...