UKOIL remains pressured
UKOIL and Oil prices remain under pressure as the Strait of Hormuz remains open, for now. As the ceasefire holds, investors will be eagerly monitoring signs of disagreement that could propel the black gold. With Donald Trump signalling he will not tolerate the recent attacks on Kuwait and Bahrain, we could see oil move higher. In addition, with the summer season upon us, demand for oil could be looking stronger. Prices are now testing the 72.00 support, with 80.00 being the target higher.
XAUUSD attempting a comeback
Gold is looking to recapture risk sentiment as prices move away from the $4000 region. With ongoing global tensions and economists awaiting the next move from the White House, the yellow metal could either reach another peak or reverse recent gains. The market’s uncertainty over the past few months has been beneficial to gold traders; from the chart, the price is hovering around 4100, with 4040as the closest support.
NAS 100 on shaky ground
Indices across the board continued to pull back after the recent tech sell-off that could continue into this week. With the market pausing on Friday for the 4th of July weekend, the Non-Farm Payrolls will be a day earlier. The index has already dropped over 1000 points in recent sessions as traders look for other opportunities aside from AI stocks. If the sell-off continues, price action could fall towards 28000 in a few short sessions, as buyers look towards 29600 to claw back some losses.
