27 Dec: Trend table outlook for FX, Commodities, Indices

By | December 27, 2018

With liquidity likely to be very thin for the rest of the week, we could be in for some exaggerated moves, so I would not be overly involved but the stock markets do looks as though they may have bottomed out, at least temporarily and we could see higher levels in the short term. Further out though, the daily/weekly charts still look very heavy, so selling rallies may be the plan here.

The same theme seems to apply to oil, where WTI has enjoyed a strong session +9% from its lows. Further near-term gains look possible although further out, the charts still look very heavy.

Gold and Silver have broken to the topside and seem set to trend higher, so buying dips looks to be the plan.

The currency markets seem set to remain choppy without too much direction although the Euro and Sterling do currently seem a bit heavy. Good support lies at around 1.1300/1.1270 for the Euro though.

Although these views may well play out, and the trend table will be produced during open market sessions, there will be no trade recommendations until Wed 2 January