Tonight, Iran launched a missile attack on two US military bases located in Iraq. Traders and special trading programs immediately reacted to this event – they began to massively buy gold and oil, which significantly increased in price in a couple of hours. As a result, important psychological marks were broken and the bearish feet were torn off.
During the low-liquid Asian session, increased demand led to a rise in the price of gold to $ 1613.3:
light oil – up to $ 65.65:
Brent crude oil – up to $ 71.99:
Could you make money on it?
Of course! Just in the previous article I talked about the possible market reaction to the aggravation of the conflict in the Middle East. Following my own recommendations, I opened several transactions on one of my work accounts, which brought a total profit of $ 1862 per night!
From the purchase pool in the market, there was only one deal for gold with a volume of 0.1 lot.
And a long CFD position on Exxon Mobil Corporation shares.
Now everything depends on the actions of Trump. So far, his post posted on Twitter last night has managed to calm the markets.
“Everything is fine! Missiles were fired from Iran at two military bases located in Iraq. Victims are being counted and damage assessed. Everything is going fine! Today we have the strongest and most well-equipped military in the world! I’ll make a statement tomorrow morning.”
But we remember very well his threats to strike at 52nd Iranian targets if there is an aggression on their part. Therefore, I left part of the gold volume for growth and also after the market opens I plan to sell the S&P 500 stock index.
The InstaForex has a derivative of the index, which is exactly the same as his movements – a CFD at ticket #SPY.
All profitable trading and the right decisions!