It’s hard to find anything to get excited about at the moment, that’s not based around the same old stories: US elections, Brexit & China.
One of the more interesting stories that may influence the UK financial sector stocks over the next few weeks, is the British Banker’s Association warning that banks may relocate outside of the UK. It’s possibly just more scare mongering – we’ll see!
There is generally a neutral to bearish feel at the moment across the markets.
Are fatigued markets bracing themselves for a volatile end to the year?
The US Dollar continues to gain strength. Sterling is teetering on the abyss and JPY is holding strength. AUD is looking to be the surprise package at the moment.
The FTSE100 needs a ‘fundamental’ push to break those 7100 highs and it is a similar story in the States, where the S&P500 can’t get through and stay through the 2100’s.
In the Far East, the Nikkei and Hang Seng are both consolidating in tightening price ranges. The latter looks the more bullish of the two.
In the metals complex, Base metals looks very flat and quiet, whilst Precious metals looks weak – Platinum in particular.
WTI Crude Oil is creating a new support area around $51 / $52 as it looks to try and push towards newer highs around the late $50’s.
The fundamentals look weak for Meats, especially Lean Hogs, due to a USDA price warning and over supply – they are already down 55% since their June highs.
If you would like to find out how you could profit from trading the financial markets, join us for breakfast on Saturday 26th November at our Introductory Seminar at Eastwell Manor Hotel. Book your place here.
Weekends too busy? Why not join us in the evening instead on Thursday 12th January 2017. Book your place here.
Information provided by Stephen Hoad BA Hons, MSc, MSTA – full time trader, technical analyst and one of the UK’s leading trader trainers. Currently a lecturer for the Society of Technical Analysts.