#BRENT:
The bullish trend remains in the oil market. The OPEC-led production cuts which began on January 1 and the U.S. sanctions against Iran and Venezuela have been carrying crude oil prices higher. In Venezuela, oil production and exports continued to be disrupted by a political and economic crisis. U.S. crude oil production also dipped, falling by 100,000 barrels per day (bpd) to 12 million bpd. American shale mining companies are reducing production amid financial difficulties. The production of hydrocarbons to reduce in March promises to Russia. This is a good signal for the oil market!
Trading recommendation: Buy 66.85 and take profit 68.44.
#SP500:
An important event of the week will take place on Wednesday 20 March. Investors expect FOMC to maintain interest rates at 2.5%. This is a good signal for the stock market! The Fed said manufacturing production dropped 0.4 percent last month, held down by declines in the output of motor vehicles, machinery and furniture. The Atlanta Fed is forecasting gross domestic product will rise at a 0.4 percent annualized rate in the first quarter. GDP grew at a 2.6 percent pace in the fourth quarter. Negative economic reports will not allow FED to raise interest rates in 2019.
Trading recommendation: Buy 2822 and take profit 2870.
#Boeing:
Countries and airlines around the world banned the 737 MAX this week after a deadly Ethiopian Airlines plane crash killed all 157 people on board. Many airlines have had to quickly find other aircraft to substitute for the grounded 737 MAX. Boeing CEO Dennis Muilenburg has stayed mostly silent in the calamitous week following the fatal crash involving a 737 MAX. This behavior has disappointed investors in the stock market. The negative reputation of the manager will have a negative impact on the value of the company's business.
Trading recommendation: Sell 381 and take profit 377.
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