investing.com 12 Jan, 2021 14:30 am

Opening Bell: Futures, Global Stocks Rebound Despite U.S. Impeachment Vote

Stocks Analysis by Investing.com (Pinchas Cohen/Investing.com) covering: EUR/USD, GBP/USD, USD/JPY, XAU/USD. Read Investing.com (Pinchas Cohen/Investing.com)'s latest article on Investing.com

Though bulls fought back bravely, by closing well off session lows—the top of Thursday’s first candle of the pattern—and today they picked up where they left off, pushing off the uptrend line.Friday’s highs will be the test of whether the bullish counterattack will prevail or whether bears are biding their time, ahead of a second attempt to push the price below its uptrend line since the Dec.2%, respecting the Fibonacci’s minimum retracement and the price’s uptrend line.p From a technical perspective, gold is building on yesterday’s hammer, as it climbs back over the 200 DMA, a support since May 2019 as it potentially trades along a complex H&S pattern.

p The price found resistance by the 200-week MA, a staunch support between May 2019 and January 2020, turning into resistance in February.Futures contracts on the Dow , S&P , NASDAQ and Russell 2000 found their footing on Tuesday morning and global shares recovered from the last session selloff as the outlook for additional US fiscal support outweighed concerns on Wednesday's vote to impeach President Donald Trump or upcoming US earnings results.

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