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Financial market analysis

Financial market analysis

3 February 2021

Assessment of the current state of the markets by the Head of the Trading Department Valdis Wuldorfs:

ES (S & P500)

A volatile week has arrived! The market managed to fall sharply and has already grown back. The last reading of 3831 is a couple of points from the historical high. We managed to panic at 3700, we are watching.


PA (Palladium)

Consolidates around 2250. Chances are high that it will go higher again. In any case, the entry point is not bad. Target 2400, 2500.


GC (Gold)

There is sluggish trade at 1850. No positions.


CL (WTI Oil)

Oil has renewed its previous high. The latest values ​​are 54.85. Correction is ripe. At the moment, if it goes down sharply, then the buy levels will not be earlier than 48.


NG (Gas)

Trading in the range of 2.80 – 2.30 on the current contract, as it will go beyond this range, it will be possible to open deals. The last value is 2.80. Yesterday there was an attempt to break through the range, but looks more like a false break.


KC (Coffee)

During the month traded at about 124. Further dynamics is not clear. No positions.


USD/RUB

The ruble has gained amplitude and may still try to go to 72, if oil holds at current values ​​for a long time, but the deal has rather weak chances, no more than 60/40. Most likely, the lateral movement in the area of ​​74 will continue until the first serious movements in oil.


BTC (Bitcoin)

Tries to go up. The speed is weak, you need 1-2 breakout days, if there are no breakouts, it will roll back to its already beloved 30,000 levels. Globally, it makes sense to make major purchases not earlier than the previous maximum around 20,000. Daily buy levels are 29500, 25500, 20,000.


HG (Copper)

The correction has taken place. The last value is 3.52. You can try to buy at this level. The goal is 3.70.


PL (Platinum)

When correcting up to 1035, you can take. The last value is 1105.


US, ZB (30-year bond futures)

We were unable to rise to 171.5 (last week we wanted to short from this level), the maximum was 170.91, which is a pity. The last value is 168.30.


DX (Dollar Index)

Only a few pips remained down to a 2-year low of 88.30. Most likely we will go there. The last value is 91.00. I have been trying to grow back all week, but it is all too obvious that it will still reach the 88.30 levels. You can try to sell at this level.


3 February 2021
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