The Chart Show: HSBC, Brent Crude Oil, Gold

TL;DR

HSBC's profits doubled in 2021, leading to a share buyback and dividend increase. Oil prices reached a 2014 high due to geopolitical tensions. Gold is favored as a safe haven asset during market uncertainties.

Transcript

hello and welcome to the chart show i'm victoria scholar and each week i'm sharing my analysis on three key stories that are getting a lot of interest among investors breaking them down not just from the fundamental perspective but with technical analysis on the charts as well this week's three charts are hsbc oil and gold shares in hsbc closed tue... Read More

Key Insights

• 💪 HSBC's strong financial performance in Asia and share buyback program contribute to a positive outlook for the bank.
• 🛢️ Geopolitical tensions are driving oil prices higher, with analysts predicting further increases.
• 💪 Gold is experiencing a strong uptrend due to market uncertainty and is likely to remain in favor among investors.
• 🍳 The technical analysis of HSBC's chart suggests potential for further gains after a break above 566.
• 🛢️ Oil's chart indicates a potential extension of its uptrend if it can surpass the psychological resistance at 100.
• ✋ Gold's chart shows potential for further gains if it can breach the high from June last year at around 1916.
• 👹 Investors are seeking safe haven assets like gold, silver, and the Japanese yen amid the geopolitical uncertainty caused by Russia and Ukraine tensions.

Questions & Answers

Q: What factors contributed to HSBC's improved profits in 2021?

HSBC's profits were driven by an improving economic backdrop and the release of credit impairments. The bank made significant progress in Asia, particularly with its wealth management business in China.

Q: What is the current trend in oil prices and what factors are driving it?

Oil prices have reached a 2014 high due to geopolitical tensions between Russia and Ukraine. Even before these tensions arose, oil prices were already rising due to strong demand after COVID-19 and limited supply from OPEC Plus.

Q: Why is gold considered a safe haven asset during market uncertainties?

Gold is favored by investors as a safe haven asset during market jitters and geopolitical tensions. Its value tends to rise when there is uncertainty in the market, as investors seek a stable store of wealth.

Q: What are the key levels to watch in the charts of HSBC, oil, and gold?

For HSBC, the next major resistance level is at around 566, with support at 525 and 500. Oil's major resistance hurdle is at 100, with support at 95 and 90. Gold has broken above resistance at 1900, with support at 1877.

Summary & Key Takeaways

• HSBC reported a doubling of profits in 2021, leading to a share buyback and increased dividend, with particular progress in the Asian market.

• Oil prices surged to a 2014 high due to geopolitical tensions between Russia and Ukraine, with analysts predicting further increases.

• Gold is in an uptrend and experiencing accelerated gains as investors seek safe-haven assets amid market jitters and geopolitical uncertainty.