Financial Spread Betting Update for 10th January 2011

This week’s financial spread betting update is now available and can be read by clicking here.

This week has begun with stocks drifting slightly lower, following on from last week’s weakness. Commodities are mostly higher and the dollar is slightly weaker against most of the majors.

Gold has edged higher in what may be an interesting week for the yellow metal having confirmed a head and shoulders top during last week’s trading. The sloping neckline may now provide some resistance should gold push up that high. The long term trend remains up and with so much support in the market between the current price level and $1300 will likely continue to be up in the short to medium term

This week’s financial spread betting update begins with:

The first trading week of the year has seen stocks continue their bull run, with US indexes making new highs again. The US dollar has shown new strength that is counter to the prevailing trend and the trends that have been in place for much of the past year. The long term trends remain intact, up for stocks and commodities and down for the dollar and interest rate futures.…continue reading by clicking here

Good trading

Phil Seaton

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