Buy #SP500, #BRENT | 14 June 2019

Buy #SP500, #BRENT


#SP500:


We are expecting the bull rally to continue in the U.S. stock market. The United States will not pursue a trade war with Mexico. U.S. Treasury Secretary S. Mnuchin said on Saturday that the U.S.-Mexico immigration deal met President Donald Trump's objectives of fixing immigration problems on the southern U.S. border. "Our expectation is that Mexico will do what they've committed to do and our expectation is that we won’t need to put tariffs in place" said S. Mnuchin. D. Trump said about the need to meet with the leader of China at the G-20 summit. Investors expect the U.S. and China to end the trade war.


Trading recommendation: Buy 2868 and take profit 2899.


Buy #SP500, #BRENT


#BRENT:


Geopolitical tensions in the Persian Gulf will have a positive impact on oil prices. The United States placed sanctions on Iran’s largest petrochemical holding group on Friday for indirectly supporting the Islamic Revolutionary Guard Corps. Tensions have risen between Iran and the United States in recent weeks after Washington sent more military forces to the Middle East, including an aircraft carrier, B-52 bombers and Patriot. Tehran opposes D. Trump and has no plans to hold talks with the U.S. President. We are expecting the price of BRENT to rise to the psychological level of 65.00 this week.


Trading recommendation: Buy 62.25 and take profit 65.00.


Buy #SP500, #BRENT


XAUSD:


The precious metal has been trading at its highest level in the last twelve months. We are expecting the continuation of the bull rally in gold. Gold and the U.S. dollar show a inverse correlation. Investors are actively selling the U.S. currency now. Investors expect Federal Reserve interest rates to fall on July 31, 2019. This is a negative signal for the U.S. dollar! Central banks of China and Russia are actively buying gold this year. The financial authorities of Russia and China reduce the amount of dollars in their reserves and increase the amount of gold in reserves.


Trading recommendation: Buy 1320 and take profit 1344.

 

David Johnson
Analyst of «FreshForex» company
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