Key Levels for October 19th + 🌍📈 Shifting Markets: How Geopolitics Impact Prices 🌎📊
- 🌍 Geopolitical Impacts: Recent events in the Middle East demonstrate the significant influence of geopolitical factors on commodity prices, often overshadowing traditional market fundamentals.
- 🪙 Gold's Surge: A striking example is Dec. gold's opening gap of ±$16 on Sunday, Oct. 7th, and its rise from an 11-month low of $1823.50 to above $1950 per ounce.
- 🏥 Middle East Tensions: The hospital bombing in Gaza disrupted diplomatic efforts to ease tensions and further broadened the scope of the conflict, making it a focal point among commodities.
- 📈 Amplifying Market Movements: Geopolitical events can amplify market movements driven by conventional fundamentals, especially in energy, precious metals, stock indexes, and interest rates.
- 🧐 Trading Awareness: Traders should stay vigilant and consider the potential for expanded price ranges and sharper market turns in such volatile geopolitical environments.
Keep it profitable,
ProTrader Mike
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