Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Macro Strategy
You can access both of our platforms from a single Saxo account.
Technical Update - Copper breaking bullish. Gold & Silver range bound
Kim Cramer Larsson
Technical Analyst, Saxo Bank
Summary: Copper broken key resistance confirming uptrend. Currently testing 400 the much needed metal could rally to 420
Gold and Silver range bound. Break out needed for direction
Copper has closed above resistance at around 395 confirming uptrend supported by positive RSI.
Next resistance area for Copper is 417-422 area.
To reverse the bullish trend a close below 378 is needed.
Medium-term Copper is testing its upper falling trendline. A weekly close above will be indicating down trend is reversed . A move to around the 0.786 retracement at 418 could be seen.
If weekly RSI is closing above 60 threshold it would confirm the bullish scenario
Gold seems to be range bound between 1,940 and 1,985 hovering around the rising 100 daily Moving Average and the declining 55 daily Moving Average. A bit of tug of war going on between those to Moving Averages.
A dip down to the 0.618 retracement at 1,929 is not unlikely but the underlying trend and RSI sentiment are bullish indicating Gold to break bullish out of the range and move to 2K.
If that scenario plays it could fuel a rally to the 0.786 retracement at around 2,038.
To reverse the bullish picture a close below 1,892 is needed.
Silver is range bound between 24 and 25.25. Break out is needed for direction.
RSI positive sentiment and all Moving Averages rising strongly suggests the break out is to be bullish. IF that scenario plays out resistance at around 26.
A bearish break out could see Silver to drop to around 23 where the 200 Moving Average will offer some support.
Latest Market Insights
Quarterly Outlook
-
-
Quarterly Outlook
Equity Outlook: The ride just got rougher
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
China Outlook: The choice between retaliation or de-escalation
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
Commodity Outlook: A bumpy road ahead calls for diversification
Ole Hansen
Head of Commodity Strategy
-
Quarterly Outlook
FX outlook: Tariffs drive USD strength, until...?
John J. Hardy
Global Head of Macro Strategy
-
Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
-
Quarterly Outlook
Equity Outlook: Will lower rates lift all boats in equities?
Peter Garnry
Chief Investment Strategist
After a period of historically high equity index concentration driven by the 'Magnificent Seven' sto... -
Quarterly Outlook
Commodity Outlook: Gold and silver continue to shine bright
Ole Hansen
Head of Commodity Strategy
-
Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
The Fed started the US rate cut cycle in Q3 and in this macro outlook we will explore how the rate c... -
Quarterly Outlook
FX Outlook: USD in limbo amid political and policy jitters
Charu Chanana
Chief Investment Strategist
As we enter the final quarter of 2024, currency markets are set for heightened turbulence due to US ...