Happy big day everyone ????
???????? Tuesday – the US Energy Information Administration’s short-term energy outlook report
???????? Wednesday – US Core CPI (MoM)
???????? Wednesday – US Consumer Price Index (MoM)
???????? Wednesday – US CPI (YoY)
???????? Wednesday – United States – US Crude Oil Inventories
???????? Wednesday – FOMC meeting minutes
???????? Thursday – US Producer Price Index (MoM)
???????? Thursday – US Unemployment Claims
???????? Friday – US Core Retail Sales (MoM)
???????? Friday – US Retail Sales (MoM)
The technical outlook today, Sunday, April 9, 2023
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gold
Gold, the global safe haven, rebounded from the resistance levels at $2031 to head to test the support at $2010. Trading at the lowest levels of $2010 favors the downtrend and the trend to test the support at $1988.
oil
Oil rebounded from the resistance levels at $81 to head to test the support at $79 and $78. Trading below the $79.61 level suggests a gradual decline to the $77 and $75 levels, respectively.
euro dollars
Eurodollar rebounded from $1.09733 to head to test $1.08431, trading below it reinforces the bearish scenario to $1.07129 levels
bitcoin
Bitcoin, the digital haven, rebounded from $28,775 levels to head to test $27,611 levels. Staying from $27,611 is likely to continue the decline to the next support at $27,323 and $26,650, respectively.
Dow Jones
The Dow Jones rebounded from the support levels at $33,330, to head to test the resistance levels at $33,731. Trading is higher than the levels of $33,526. The positive scenario suggests the next target at $34,523.
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US corporate earnings reports
1- Wells Fargo stock ????
The current price is $37
It is expected to rise to $41 levels
2- Delta Airlines stock ????
The current price is $33
It is expected to rise to $36 levels
3- United health group share ????
The current price is $512
It is expected to rise to levels of $543
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overview
It is expected that inflation levels will continue to decline from 6% to levels of 5.6% or close to them, with expectations that the next interest rate hike will not be less than 25 points. If the Fed maintains the levels of inflation, inflation can be curbed from December 2023 to the first quarter of 2024 at the latest
We see the large companies continuing to harvest appropriate profits, as happened during the years of the pandemic, distancing themselves from technology companies and growth stocks. Visa, MasterCard and Coca-Cola are among the defensive stocks during the coming period.
With the continuation of our expectations for a gradual decline in stocks during the months of July and August to the lowest point, with Tesla stock reaching $101 and Apple stock reaching $124.
We advise investors and speculators to avoid risk appetite and to buy fixed assets such as bonds to protect portfolios with a percentage of not less than 30%, and cash of not less than 30%.
Have a nice and blessed day ????
