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Indices testing resistance; Precious metals breaking higher; Crude Oil under pressure

Jun 14, 2019 (07:21)

by John Knobel

Global Central Banks Shifting Towards Lower Interest Rates;

Today's Events:

Bank of Russia to cut interest rates today;
Australia Dollar and New Zealand Dollar fall on lower interest rate outlook;
United States Retail Sales forecasted to rise from 0.1% to 0.5%
Bank of England Governor due to speak;

Market Drivers

Technical Alert: German DAX testing 12,212 resistance; current price 12,165 +139.5 points last 5 days; stock markets supported on prospects of central bank stimulus to get economies back on the upswing; potential +305 points upside DAX move from current price provided 12,212 resistance breaks; downside -205 points near 11,960 support.

Precious Metals breaking higher on safe haven demand; trade war concerns; lower USD interest rate prospects; geopolitical tensions helping to support Gold, Silver and Platinum;

Crude Oil prices remain under downside pressure; although speculative traders drove up prices yesterday after two oil tankers were attack; rising US crude oil inventories seen as flooding the market with cheap crude oil holding crude prices down; current price $52.30; support at $50.20 a break below opens up further downside potential; resistance at $55.85;

The original content of this Market Update is done in the English language. Any other language translation is provided for the sake of convenience. In case of any inconsistencies between the original English version and any other language, the original English version shall prevail.

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