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.
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