Daily Alert – Tuesday 30th November 2021: Moderna CEO prompts another over-reaction
Yesterday’s predictable reversal of Friday’s Omicron-inspired dip lasted until 5am this morning UK-time when Moderna’s CEO Stephane Bancel said that we would definitely maybe need a new vaccine to combat this latest variant. He was reiterating comments made by the Moderna Chief Medical Officer Paul Burton at the weekend, but sometimes the market needs to hear something twice before massively over-reacting.
Both my Japan225 and WTI trades were taken out at breakeven by the move down, but I see this simply as a chance to re-enter at an even better price. Equities and oil are currently showing bullish candles on the shorter time-frame charts and we can see wicks to the downside on the daily chart, showing the buying pressure.
Later today we have Eurozone CPI which will almost certainly put pressure on the ECB’s “do nothing” approach to monetary policy.
We’ll be back tomorrow.
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