With the markets in risk off mode, Bonds and Gold are rallying higher, says Clive Lambert, Director, FutureTechs, as he joins Tip TV to cover Gilts, Gold, FTSE 100 and the S&P 500 index.
Gilts: Seeing buyers on trendline support
Lambert notes that the markets are currently in an risk off phase and hence the bond markets are seeing a safety rally. Looking at the technical charts, he comments that Gilts are seeing buying at the uptrend support and moving higher within the trend.
Gold: Break above $1140 positive
On gold prices, Lambert mentions that the precious metal rallied after a break above $1140 and is seeing buyers on dips. He believes the yellow metal looks good for a climb towards $1205.
FTSE 100: The low volume homesick angel
Lambert notes that there is no particular volume behind the FTSE 100’s rally and he is waiting for sellers to return to the market.
S&P 500: Lambert looks at the technical chart for the US index and notes that S&P 500 remains a Fibonacci trade.
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