Analytics

News, Trends, & Analytics 14.02.2020

Oil’s position may be shaky

Today, the focus is on the problems with the Model X, the US budget deficit, and the forecast from the International Energy Agency.

 

News

The new coronavirus cases counted in China have begun to scare the market. Affects S&P 500


Tesla recalls 15,000 Model X SUVs due to production problems. Affects Tesla


The International Energy Agency expects a drop in oil demand this year. Affects Brent


The volume of production in Turkey exceeded the forecast by 1.6%. Affects TRY


The US budget deficit in the first four months of the fiscal 2020 year it is predicted to grow by 25%. Affects USD

 

Calendar

13:30 GMT

The U.S. Core Retail Sales Index will be published. If the results exceed 0.3%, the USD will receive upward momentum.

 

Technical Analysis

Brent

After OPEC predicted a decline in black gold consumption in its monthly report, the International Energy Agency expressed a similar position. Thus, oil quotes may come under pressure.

The Fibonacci fan, as well as the Stochastic indicator, also give purely bearish signals. The potential for reducing oil quotes is not limited to the nearest minimum of 53.50.

CAC 40

On the chart of the French stock index, a bearish divergence has been observed, therefore, a more likely scenario is a decrease in quotes.

Bitcoin

Bitcoin may return to the psychological level of 10,000. If the price falls below this benchmark, the likelihood of a bearish trend will increase.

 

Gold on this day in history

  • Since 2000, Feb. 14th has been a trading day 15 times.
  • On 66% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.6%.
  • The downward trend was limited to 1.61%.
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