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A bullish trend prevailed yesterday, making silver a hot trade for those seeking a near-term option. Asian indices were a mix of ups and downs, with the majority recording an up-trend on the trading board.
ASX 200, Australia, is at 7,029.40 with an upswing of 8.8 points. The figure is impressive except for the percent rise compared to Hong Kong’s Hang Seng index, which rose by 173.27 points, or 0.86%, to trade at 20,219.04. The percentage rise for Australia stood at 0.13%.
A50 Index, China, is trading at 13,601.23 with an increase of 0.29% or 39.65 points. The only index to take a hit was Japan’s Nikkei 225, which went down by 226.04 points to trade at 28,023.20.
The Equity market remained a set of mixed emotions across Asia.
A smooth trend was experienced across the UK and Europe with a sad face for a downward trend. Futures took a hit to fall in the UK, Euro, and Germany, according to their respective agencies making the figures public.
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Here’s the brief:-
|
Particulars |
Down Points |
Estimated Opening Value |
|
FTSE 100 Futures (The UK) |
-3.5 points | 7,478.87 |
|
STOXX 50 Futures (Euro) |
-2 points |
3,755.22 |
|
DAX Futures (Germany) |
-21 points |
13,666.69 |
That is a pretty hard blow that has been witnessed in the UK, Euro, and Germany. The trend is shared across the European region, with every Fx broker keeping a closed eye on what will happen when the opening values come up.
The US Futures went up with no downward trend, keeping bulls on the line, provided they did hold on to their values. DJI Futures, S&P 500 Futures, and Nasdaq 100 Futures went up by 84 points, 37 points, and 11.5 points, respectively.
The United States of America is expected to come up with an inflation report the next day, pushing traders to have an upside bias with a soft potential to work in their favor.
Gold continues to show potential to touch $1800; however, there is resistance with an inadequate reward-to-risk ratio for better estimates. Silver was riding a bear, but it has now moved on to the bullish ride after rising to a 5-week high and trades bac above the 50-day eMA. Prices are inching closer to the mark of $21, hoping they will soon cross $22.
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