Venture: Update - Middle East
Issue 111;
The missile strikes on Iran have stirred markets with large moves in natural gas, oil, and precious metals. The dollar is also up.
UK natural gas has risen by 55% today, whereas it has barely moved in the US.
UK and US Natural Gas
Putting that into perspective, the price of gas has shot up, but it is still well below levels seen in 2021/22. Most UK imported gas comes from Norway and the USA, but some comes from Qatar.
UK Natural Gas – 10 Years
Gold is strong on the back of bad news, as investors flee to safety. The price has retested the all-time high from January.
Gold
Silver still has a way to go to make a new all-time high and has stalled today. That said, it is back above all moving averages and recently made a 20-day new high.
Silver
The measure of implied volatility in the stockmarket, a gauge of fear, has moved higher again. While the VIX hasn’t broadly had much coverage, it has been above trend for the past month.
The VIX
S&P Futures have a ByteTrend Score of 2. The 200-day moving average is in good shape, and the price is above, but the rest of it isn’t. Short-term, a break lower seems likely.
S&P Futures
Oil stocks are higher, and Banks, Consumer Goods (Luxury), and Travel are lower.
UK and European Stoxx 600 Index Today
There is no new stock recommendation today, as events have taken over. However, we have updates on four Venture stocks.
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