2020-11-17 • Updated
Every Monday great news comes out. What will the next Monday bring us? Firstly, Pfizer and BioNTech announced that their vaccine is 90.0% effective last week. Then, Moderna published results of its’ Covid-19 vaccine, which prevented the infection by 94.5%.
The second report encouraged investors but not as much as the first one. Anyway, it was beneficial not only for Moderna but also for undervalued stocks and indices which were hit hardest by the pandemic. For example, the Dow Jones set an all-time high today near 30 000 due to vaccine hopes.
The US dollar dropped due to the risk-on mood on the market, while emerging market, commodity-sensitive, or just riskier currencies such as the CAD, the AUD, and the GBP gained.
All that vaccine news didn’t change the game completely as new virus cases are steadily rising all over the world, but it’s really inspiring in the long-term perspective.
Going back to Moderna, it jumped to $100.00 for the first time but closed in red as profit-takers entered the market. If it manages to jump above this psychological level again, it will rise to the next round number of $105.00. In the opposite scenario, if it drops below the support of $80.00, the doors towards the low of November 10 at $75.00 will be open. Follow the news and catch the market flow!
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Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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