Many Assets Are at A Crossroads Ahead of the Christmas Holidays!
The upcoming Christmas holidays are going to impact the stock market. The number of buyers and sellers is going to decrease as bulls and bears are going to take a well-deserved holiday break. It’s about time to sum up the year and embrace a thin market for now.
The price of the currency pair EUR/USD tried to break the supporting zone formed between levels 1.0400 and 1.0450, but to no avail. Bulls seized the initiative and formed a strong candle at the end of the trading week. Buyers might still step in, though. However, once the asset’s price breaks the level of 1.0330, bears are going to push forward. So, let’s see what is going to happen next.
The price of copper is heading down, targeting the supporting zone formed between levels 3.921 and 4.000. At that, buyers potentially prevail and may help the copper rise and head North. Time will tell whether this scenario is going to work out.
The price of Brent oil remains flat, gradually entering a triangle. It might eventually break any side of this triangle. However, the supporting zone located under the triangle might advance the price rise. The sellers will have to break this support to bring the asset’s price down so this scenario is less likely to work out anytime soon.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Futures and Options: Trading futures and options on margin carries a high degree of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.