Daily Market Analysis By FXOpen

[FXOpen Trader]

Market Analysis: Gold and WTI Crude Oil Prices Signal Bullish Bias

Gold price started a fresh increase above the $2,600 resistance level. WTI Crude oil prices climbed higher above $70.00 and might extend gains.

Important Takeaways for Gold and WTI Crude Oil Prices Analysis Today

• Gold price started a steady increase from the $2,535 zone against the US Dollar.
• A connecting bullish trend line is forming with support near $2,645 on the hourly chart of gold at FXOpen.
• WTI Crude oil prices extended gains above the $68.50 and $70.00 resistance levels.
• There is a key bullish trend line forming with support at $70.30 on the hourly chart of XTI/USD at FXOpen.

Gold Price Technical Analysis

On the hourly chart of Gold at FXOpen, the price formed a base near the $2,535 zone. The price started a steady increase above the $2,600 and $2,605 resistance levels.

There was a decent move above the 50-hour simple moving average and $2,675. The bulls pushed the price above the $2,700 resistance zone. Finally, the bears appeared near $2,720. A high was formed near $2,720 and the price is now consolidating gains.

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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

[FXOpen Trader]

Moderna (MRNA) Stock Rises 7.5% in a Single Day

Last week, shares of several major European and American vaccine manufacturers dropped in response to the appointment of Robert F. Kennedy Jr. as head of the Department of Health and Human Services, given his well-known anti-vaccine stance.

This added pressure to Moderna (MRNA) shares, which have been in a downtrend (illustrated by the red channel). Since the start of 2024, they have fallen by over 50%, even as the S&P 500 (US SPX 500 mini on FXOpen) has gained more than 25%.

However, during Friday’s trading session, MRNA shares surged by 7.5%, making them one of the market leaders (by comparison, the S&P 500 gained approximately 0.4% on the same day).

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.