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10/06/21 10:53
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Dow, Nasdaq 100 and Nikkei 225 all fall back after hawkish Fed decision The Fed’s ‘hawkish pause’ has sent markets into a tailspin, with stocks falling as investors contemplate the prospect of a much longer period of higher interest rates in the US. Source: Bloomberg Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 21 September 2023 11:43 Dow slumps following Fed decision The index saw a substantial reversal yesterday, and has moved back towards the lows of last week. The 100-day SMA could now provide some support, but below this the 34,000 level and the 200-day SMA could also see some buying emerge. A revival above 35,000 would be needed to secure a more bullish short-term view. Source:ProRealTime Nasdaq 100 gives back more gains Losses continue here, with yesterday’s drop further eating into the gains made from the August lows. The price is currently sitting on the 100-day SMA, and a close below this opens the way in short order to 14,690. Below this the August low at 14,500 comes into view. From here, the next major level to watch would be the August 2022 high at 13,722. A rally above 15,300 would be needed to suggest that the buyers have succeeded in reasserting control. Source:ProRealTime Nikkei 225 sees further losses The drift lower of earlier in the week has turned into a more dramatic move lower. This has put the sellers back in control. Below the 50- and 100-day SMAs, the price then moves on to target 32,076, and then to the August low at 31,295. Buyers will want to see a move back above 33,000 to suggest that the selling has been halted for the time being. Source:ProRealTime -
Brent crude oil, gold and natural gas prices drop post hawkish Fed pause Outlook on Brent crude oil, gold and natural following Fed’s hawkish pause. Source: Bloomberg Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Thursday 21 September 2023 11:27 Brent crude oil comes off its ten-month high The price of Brent crude oil continues to come off Tuesday’s ten-month high at $94.97 while the US dollar once more appreciates, exerting a slight downward pressure on the oil price, and as the Fed delivered a hawkish pause. Support can be spotted around the $90.97 early September high ahead of the psychological $90.00 mark. Resistance lurks around Tuesday’s $93.32 low. Further up lies this week’s ten-month high at $94.97 and the mid-September 2022 high at $95.19. Source: ProRealTime Gold comes off yesterday’s $1,947 high Gold rallied back towards its $1,953 per troy ounce early September high but only managed to reach $1,947 before it came off again as the greenback continued to appreciate following hawkish comments at the Federal Open Market Committee (FOMC). The 200-day simple moving average (SMA) at $1,925 is currently being probed as support, below which the 6 September low at $1,915 may also act as minor support. Minor resistance above the 55-day simple moving average (SMA) at $1,932 sits at Tuesday’s $1,937 high. Source: ProRealTime Natural gas comes off this week’s six-week high Natural gas prices recently shot back up to the $3.000 mark on weather and production concerns but are currently slipping back from this week’s high at $3.021. A slip through Wednesday’s $2.857 low would put Monday’s low and the 200-day simple moving average (SMA) at $2.800 to $2.791 on the map. Immediate resistance is seen at the early September high at $2.904 ahead of last and this week’s highs at $2.973 to $3.021. Slightly further up sits the August peak at $3.050. Source: ProRealTime
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