Daily financial market report at the start of trading this week.
US stock markets performed strongly last week, with major indices hitting new record highs, buoyed by optimism surrounding a potential ceasefire agreement between the US and Iran and strong earnings reports in the technology sector. This surge reflects investor confidence in continued economic growth despite some geopolitical risks.
The index closed at 51,032.46 points, a gain of approximately 363.49 points, or 0.72% . It reached an all-time high during the session. The index experienced a clear upward movement throughout the day, trading within a range of 50,698 to 51,094 points.
Technical Analysis : The index is showing a strong upward trend, having broken through previous resistance levels and reached historical highs. Moving averages support buying, with key support levels near 50,600 points and the next resistance above 51,200. Momentum is positive, with the potential for continued upward movement in the short term.
Fundamental Analysis : The index benefits from strong performance in industrial and financial companies, along with reduced geopolitical tensions that support the global economy. Earnings growth and optimism surrounding monetary policy further bolster the positive outlook.
Expected movement : A positive movement is expected with the possibility of testing higher levels at the start of the new week if geopolitical optimism continues.
Expected movement : A stable to upward movement with an expected range of around 40-50 points per day based on current volatility.
Gold is currently trading around $Â 4,520-Â $4,540 per ounce after a slight pullback recently. The metal has undergone a corrective movement following previous highs driven by geopolitical tensions.
Technical analysis : Gold is trading below some moving averages, indicating short-term selling pressure, but the overall long-term trend is bullish. Key support is near $4400-$4450.
Expected movement : Stability is expected with a possibility of an upward move if tensions return or the dollar weakens.