(UKOIL) Brent back on track
 

(Click on image to enlarge)

(UKOIL) Brent attempts to regain some composure after days of declines, as investors assessed developments in Venezuela. In addition, reports on the progress of proposed U.S. sanctions against countries doing business with Russia heated up. The focus on geopolitical concerns could keep the price heading towards 62.50, with 60.00 as the immediate psychological support.
 

EURUSD stuck in a bear trap
 

(Click on image to enlarge)

America looks to get back on track after traders wake up from the New Year holiday. With the recent job numbers failing to light up the markets, investors will look ahead to this week’s inflation data for a lift. The consensus is that the Fed is moving away from 3%, which will help the panel get closer to another rate cut. As traders expect at least another 25% cut, the pair could test 1.1800 with 1.0620 as the closest support.
 

SPX 500 another record close
 

(Click on image to enlarge)

U.S. indies were in a buoyant mood after continuing the bullish rally in recent sessions. The sticking point for the S&P appears to be the 7000 level, where prices have failed to test. With AI and tech stocks remaining bullish, it will be up to progressive positive sentiment to move the S&P higher as we enter the first quarter of the year. 6950 is the first hurdle to clear, and 6800 is a key support level.

More By This Author: