London opens at 12:00 Dubai time. Oil is the big mover: WTI is down 3.24% and Brent 6.29%, with an OilPrice.com headline pointing to growing hopes for an Iran peace deal. Gold (+0.46%) and silver (+2.39%) are bouncing from oversold levels, and US futures are firmer (ES +0.45%, NQ +0.85%). DAX and FTSE 100 figures below are Friday closes, since neither has opened yet.
London ·
Gold trades at 3916.8, up 0.46% but still below the pivot 3938.8 and far under MA20 (4103.04). RSI 30.2 sits at the edge of oversold.
What to watch: Whether the Asia high of 3928.1 and the pivot 3938.8 cap the rebound. A Bank of England rate headline may move the dollar.
Scenario: If price holds above 3938.8, the next resistance is 3998.3; a drop below the Asia low of 3900 would put 3839.4 back in view.
R: 3998.3 / 4097.7 · P: 3938.8 · S: 3839.4 / 3779.9
Silver rose 2.39% to 50.27 and is back above the pivot 49.941 and the round 50 level, but MA20 (56.174) is far overhead and RSI 28.1 is still oversold.
What to watch: R1 at 50.996 and holding the 50 handle.
Scenario: Above 50.996 the next level is 52.896; a slip back under 49.941 would point to 48.041.
R: 50.996 / 52.896 · P: 49.941 · S: 48.041 / 46.986
WTI is at 100.75, down 3.24% and below the pivot 103.85 and S1 102.7. It still sits above MA20 (98) and RSI 54.9 is neutral.
What to watch: The round 100 level and the Asia low of 100.15. Headlines on Iran talks could keep volatility high.
Scenario: If 100.15 breaks, MA20 near 98 is the next support; a return above 102.7 would ease the pressure toward 103.85.
R: 102.7 / 105.26 · P: 103.85 · S: 100.15 / 98
Brent fell 6.29% to 110.24, well below the pivot 116.97, though it holds just above MA20 (109.44). The gap versus WTI's smaller drop may partly reflect a front-month contract roll, so treat the daily change with care.
What to watch: MA20 at 109.44 and the Asia low of 109.28.
Scenario: Below 109.28 the round 105 level comes into view; a recovery above today's high of 112.38 would open 114.25.
R: 112.38 / 114.25 · P: 116.97 · S: 109.28 / 105
The DAX closed Friday at 25818.21 (-0.85%), just below the pivot 25874.52 but above MA20 (25396.48). German retail sales fell 2% m/m in September against a forecast of 0.4%.
What to watch: How the open reacts to the weak retail data, and the Italian manufacturing PMI at 12:45 (forecast 50.2).
Scenario: Holding above 25874.52 would target 25969.89; a break below 25722.84 would bring 25627.47 into play.
R: 25969.89 / 26121.57 · P: 25874.52 · S: 25722.84 / 25627.47
The FTSE 100 closed Friday at 10729.78 (+0.07%), slightly below the pivot 10741.47 and above MA20 (10675.59). Its heavy energy weighting makes the oil drop a headwind at the open.
What to watch: Energy stocks and Bank of England headlines ahead of the expected rate hike.
Scenario: Above 10741.47 the next resistance is 10767.03; below 10704.23 the index could test 10678.67.
R: 10767.03 / 10804.27 · P: 10741.47 · S: 10704.23 / 10678.67
This analysis is general market commentary for information only. It is not investment advice or a recommendation to buy or sell any instrument. Trading leveraged products such as forex and CFDs carries a high risk of losing money. Prepared with automated tools from a market data snapshot (Yahoo Finance prices, economic calendar, public news headlines); prices may be delayed.
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