The bullish rally in the stock markets! | 09 April 2021

The bullish rally in the stock markets!


#WTI:


The OPEC+ reached a deal to gradually ease production cuts from May. OPEC+, which comprises the Organization of the Petroleum Exporting Countries, Russia and other allied producers, agreed to ease production curbs by 350,000 barrels per day in May, another 350,000 bpd in June and further 400,000 bpd or so in July. However, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said the market’s recovery was “far from complete”. A bullish rally in the oil market will have a positive impact on the value of the British currency, as assets are correlated with each other. Russian Deputy Prime Minister Alexander Novak said in the meeting that he expected global oil demand to grow by 5-5.5 million barrels per day this year.


Trading recommendation: buy 60.10 and take profit 62.80.


The bullish rally in the stock markets!


#SP500:


Index S&P500 closed the week above 4030 points for the first time in history! Vaccination of the population against COVID-19 in the United States is gaining momentum, which combined with the reflationary policy of the financial authorities, leaves investors no choice but to increase the share of stocks in their portfolios. US President Joe Biden presented a draft of a new anti-crisis program in the amount of $ 2.3 trillion, which will be the first part of the $ 4 trillion infrastructure plan. The bill provides for significant investments in transportation, broadband and healthcare professionals.


Trading recommendation: Buy 4015 and take profit 4065.


The bullish rally in the stock markets!


#DAX30:


German factory activity grew at the fastest pace on record in March! IHS Markit's Final Purchasing Managers' Index for manufacturing, which accounts for about a fifth of the economy, reached 66.6. Factories in Europe's biggest economy have been humming along during the pandemic almost undisturbed by lockdowns. "It was a record-breaking month on many fronts including new export orders, which have benefited from synchronised upturns in sales to the US and China and seen an unprecedented number of German manufacturers reporting growth," said Phil Smith, principal economist at IHS Markit. Positive macroeconomic statistics signal the continuation of the upward trend in the German stock market.


Trading recommendation: buy 15025 and take profit 15315.

 

David Johnson
Analyst of «FreshForex» company
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