After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
Stock market: Pepsico keeps fighting
BUY 132.60; TP 135.00; SL 131.25
The stock of Pepsico formed a kind of messy inverted “Head and Shoulders”. On W1 we see a sharp reversal of the price to the upside. It has also managed to overcome the July-August resistance line and finally closed above the horizontal 50-day MA in the 131.50 area. Bulls will remain in control as long as Pepsico is trading above the support in the 128.60/127.50 zone. The advance above 132.50 will open the way up to June and July highs in the 135.00 area.
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.