UKOIL(Brent) spiking higher
UKOIL(Brent) has surged in recent sessions after jumping over $10 last week.
- Geopolitical tensions have heightened as the US announced it has completed the latest round of military strikes.
- In addition, Iran is looking for more retaliation after targeting Gulf countries due to the attacks.
- With no end in sight, 92.00 is a critical resistance, with 84.00 a firm floor.
AUDUSD is steadily creeping lower.
206The greenback continues to take advantage of another shift in sentiment as prices steadily fall lower.
- With no major fundamental news events coming out of Australia this week, all eyes will be on the next move of their central bank.
- With the country’s main exports suffering slightly, with copper and iron ore prices down, a continuation lower could advance.
- The pair is drifting towards 0.6920, and 0.7050 is the first resistance to lift.
SPX 500 remains subdued
The S&P 500 extended losses after energy prices are expected to spike again.
- Tech stocks are feeling the heat as energy prices continue to rise.
- Wall Street had a rough week last week as hopes of further record highs were dashed after another dramatic sell-off.
- With the FOMC looking to give more guidance this week, the Fed could pull stocks even lower.
- 7620 is the next target, with 7350 a key support.
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