UKOIL pushing higher
UKOIL remains supported at a 5-month high as traders await the next signal.
- This might not be the final upturn, as Middle East tensions remain on edge.
- With oil touching its highest price since May, UAE authorities also reported an oil spill.
- With more turbulence expected this week, the price is moving towards 120.00.
- 110.00 is now a critical support to maintain the uptrend.
AUDUSD remains bullish
The pair maintained its bullish momentum, with prices remaining above 0.7000.
- After a 100-pip jump, the Aussie is in control of the general direction.
- Signs of a resilient labour market could generate a further bullish reaction.
- The Australian central bank has raised its guidance to combat inflation.
- The pair is looking to test the 0.7100 resistance, with 0.6940 as a fresh support.
NAS 100 recouping losses
Last week’s sell-off saw traders hope for a reprieve as the Nasdaq shed over 3%.
- AI stocks are in focus as revived doubts crept in to ignite the downturn.
- As earnings season continues, it will be up to the big tech stocks to drive the indices.
- After shedding over 2000 points in recent sessions, the index will be hoping for support.
- The index will hope to test 30000, with 28400 being the immediate support.
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