Geo-political uncertainty ramped up over the weekend. Potential risk factors surrounding the health and election prospect of incumbent US president Donald Trump dominated the headlines. Across all asset groups, bulls are factoring in that any bad news will be addressed by a further scaling up of fiscal and monetary policy. They haven’t been wrong on that since 2008, so betting against them now could be costly.
With increased ‘risk on’ has seen precious metals given up some ground. The short-term at least looks to favour the bulls, but medium and long-term uncertainty could still come in to play. The US election is now less than one month away.
S&P 500 – last weeks kiss of the Weekly 20 SMA it could have been another ‘higher high – higher low’ buying opportunity.
Crude Oil WTI
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
BlackBull Markets is a reliable and well-respected trading platform that provides its customers with high-quality access to a wide range of asset groups. The broker is headquartered in New Zealand which explains why it has flown under the radar for a few years but it is a great broker that is now building a global following. The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners.