We are in ”The Pivot Zone”
Saxo Market Call
Summary: The equity market recovery continued apace yesterday and overnight, buoyed by Alphabet's 20 to 1 stock split and a jump in its share price after the parent company of Google reported strong results for its ads business. Today we breakdown the many equities to focus on as the earnings blitz continues, the key technical levels for the equity market as this recovery has taken the price action close to pivotal resistance levels. We also discuss crude oil ahead of another OPEC+ meeting and the latest US inventory data, a very tight coffee market, understanding total return in the commodity market and in currencies, the degree to which Aussie has correlated with risk sentiment rather than listening to the RBA. This and more in today's pod, which features Peter Garnry on equities, Ole Hansen on commodities, and John J. Hardy hosting and on FX.
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