Articles tagged with "technical-tuesday"

The relative calm in the energy and bond markets have allowed the US dollar and equities to make a slightly positive start to the week. America’s economic war on Iran also failed to trigger any panic, leaving investors with little to chew over until the release of US inflation data on Wednesday and Kevin Warsh’s speech at the Jackson Hole Symposium on Friday.

US equity futures and European markets moved higher in the first half of Tuesday, extending a rebound in technology shares while easing oil prices offered additional support to investor sentiment.

Crude oil has been finding solid support this week because of the stalled negotiations. Prices were up around 3% by mid-morning London trading, continuing to extend their gains from yesterday as traders are forced to price out prior optimism over a speedy resolution to the Strait of Hormuz situation.

Markets were very eager to pile into the de-escalation narrative, and even the faintest hint that the US Hormuz blockade might be nudging things back toward talks has been enough to put crude oil, and the dollar, under a fair bit of pressure, providing relief for risk assets.

The price of gold extended its recovery in the first half of Tuesday’s session, up a good 6% on the day at the time of writing. But don’t let this fool you. It’s far too early to suggest gold has found a proper bottom. If anything, I’d argue heightened volatility is here to stay for a while yet, as the one-way trade that dominated the market for months could be over now.

Crude oil prices were lower first thing this morning, following a slight drop in the previous session. The small drop comes hot on the heels of a multi-week winning run, with WTI steadily climbing from a major support area of around $55 to above $60 per barrel. The key question is will the dip buyers step in here and push oil prices? We certainly see the short-term risks tilted to the upside although the longer term crude oil outlook remains uncertain.

We are barely two weeks into the new year, and silver is already up 20% year-to-date. Momentum has evidently remained strong after the metal skyrocketed in the second half of last year, closing 2025 with a gain of nearly 150% to mark its strongest annual performance since the late 1970s. The follow-up gains in these initial days of 2026 makes any silver forecast both intriguing and slightly uncomfortable. Moves of this scale tend to leave the market stretched.

Gold’s more recent rally owes a lot to the global shift towards lower interest rates. That makes incoming US data especially important for the gold forecast right now, all the more so as there are early signs that central bank buying may be starting to cool.

The US dollar forecast remains tilted slightly lower, as investors look forward to the Fed’s rate decision next week. Among the pairs that could benefit the most from the potential dollar weakness is the likes of the NZD/USD. Let’s break it down in this edition of Technical Tuesday.

Crude oil forecast: After months of falling oil prices, can we now see a recovery in Brent and WTI? That’s what it looks like as we take a delve into the charts of the oil contracts in this edition of Technical Tuesday.

The Japanese yen was the strongest currency in the first half of Tuesday’s session, making good ground against the pound and commodity dollars, and even against the US dollar, with the latter rising against almost all other major currencies. Risk appetite was noticeably weak with European indices and US futures, as well as cryptocurrencies, crude oil and copper all falling.

In this week’s edition of Technical Tuesday, we are looking at the chart of gold following the metal’s recent breakdown. The key question here is that have we seen a top or this merely a blip, before the precious metal reverses course. For what it is worth, I think it is far too early to turn bearish on the longer term gold forecast, even if we have seen some short-term signs of a bearish reversal.