Saturday, and again on Sunday, protests and demonstrations broke in cities across Iran after the military admitted having shot down a commercial passenger plane last week. Outside a Tehran university they chanted, ‘’they are lying that our enemy is America, our enemy is right here’’, Reuters reports. Police are said to have responded with batons and tear gas. In a Tweet written in English and Farsi, President Trump said Iran should allow human rights organisations into the country, warning that ‘’the world is watching’’.
Taiwan’s presidential election over the weekend delivered a resounding victory to incumbent Tsai Ing-Wen. Campaigning on a pro-independence, anti-Beijing platform, when the opposition favours closer ties with Beijing, China’s Foreign Ministry put out a report saying: ‘’no matter what changes there are to the internal situation in Taiwan, the basic fact that there is only one China in the world and Taiwan is part of China will not change’’.
DAX 30
As overbought as it’s been several times since November yet managing its second strongest weekly close in the index’s history.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
FTSE 100
A dragonfly doji on the weekly chart following the previous week’s hanging man underlines current instability at the Fibonacci 76.4 per cent retracement resistance.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
S&P 500
Terribly overbought on the weekly chart yet managing the strongest ever weekly close.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
BRITISH POUND/US DOLLAR
The MACD remains bullish as the market continues to flirt with secular trend line resistance trend line resistance.
SHORT TERM TRADER: Small long at 1.3075; stop below 1.2900. Target 1.3500.
POSITION TAKER: Square.
EURO/US DOLLAR
No momentum and a currency pair that has kept to a 3-cent range since the summer.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
GOLD
Bullish momentum has waned yet what ought now to be pivotal support at 1540 is holding.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
