Markets are stuck in the waiting for US-Iran talks – Market Check

Those who were looking for action this week barely got served.

A single session of volatility occurred on Tuesday, when rumors of failing talks between the US and Iran could lead to a re-starting of the War as the Ceasefire deadline came close.

But it wouldn't be a normal Tuesday without a classic Trump TACO.

While both parties were preparing to resume the conflict, with 4 hours to the end of the Ceasefire, the President extended the Ceasefire without any clear deadline and allowed priorly anxious Markets to explode higher in overnight Futures trading.

Since, however, Markets have been in an absolute deadlock, with rare movements across Metals, Stocks, Currencies and Cryptos (which couldn't find the momentum to sustain their past session's move).

The latest narratives are pointing to infighting between the Revolutionary Guards and a more progressive governmental party in order to bring diplomats to the table.

On the US side, they really are eager to push for a peace deal, so except if they fail to align a team for the talks, the process should still be towards peace (which is why Stocks are staying at relative highs).

Check out this passive-aggressive Post by the President!

Nobody knows what the Islamic regime has in mind, so except for gamblers, Participants will have to remain patient and lean on current pricing to prepare for breakout plays when some news drop.

Let's check out a few charts to get an idea of where to look.

Discover:

• Gold (XAU/USD) Technical Analysis: Bulls defend $4700 support. Is a break above $4750 on the way?
• Chart alert: WTI crude oil at risk of mean reversion decline below $102.25 after 5% spike
• Intel (INTC) Technical: Overstretched rally, corrective decline looms below 72.54/75.76 within major uptrend

Stock Markets haven't been able to generate much traction in recent sessions, and the flows should remain the same as long as no concrete news emerge for the peace in the Middle East

Tech investors have been fearless!

Nasdaq is up close to 18% from its War lows. A shocking rise that left most investors scratching their heads – Watch out for a slow down in momentum, showing small bearish divergence.

Monday's open will be essential, with more news expected by that time.

The Dow Jones could actually reflect the positive but cautious stance from investors, while the Tech-heavy index gets pulled higher by pre-earnings inflows into Mag 7s'

Check out intraday levels for Stock Markets right here.

Metals are really struggling to find traction in recent action with a fake-out above $80 and finding pressure from a still not advancing Middle East situation.

Bears are taking the upper hand for now, having broken the bull channel from the Ceasefire ecstasy. Watch for a break of $74 for bearish acceleration.

Traders will have to be cautious for continued profit-taking, but overall, it seems that the action is long-term rangebound ($65 to $85) for now.

Don't forget to check out our morning Gold piece!

While they remain more bullish than bearish, they will have to maintain stronger momentum to make sure that these moves don't fade lower.

Traders will have to see if they manage to retain a bid even if the narrative worsens.

Don't forget to check out our past day Crypto analysis right here.

The US Dollar has mean reverted highs after a test of its mid-range 98.00 Support.

Bouncing to 2-week highs today, the move seems contained by the narrative and forming a downward channel – This pattern could be fragile particularly if the war was to resume in the absence of talks.

Check out our in-depth US Dollar and FX reviews right here:

• USD/JPY maintains a clear range ahead of Japanese CPI – FX Analysis
• A temporary Ceasefire extension maintains a bullish action – North American Mid-Week Market Update

As always, make sure to follow talks around US-Iran negotiations.

Safe Trades!

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