Shares in U.S. Steel are bucking the broader market Thursday, adding 1.05% to stand at $20.26 and off an earlier-in-the-week low of $15.68. The move follows a midweek rally on heavy share volume after a two-month malaise for the stock.
Roughly one month ago, the price of a gold futures contract expiring in December was trading at just above $1,200 per ounce. In the past few days a so-called “bear raid” on the gold market in general has driven its price down close to $1,080.
Even though the S&P 500 held support again on Friday, May 29, falling from its previous up breakout last week, it still feels vulnerable. Whether it stalls or makes a move this week, there’s a way for traders to take advantage of their view on exactly where this market is headed—and they can do so with limited risk using binary options.
Fundamentally, crude oil supplies are at record levels here in the United States and globally, yet prices climbed this past week on news of rig and supply counts at places like the Cushing and Baker Hughes facilities.
The S&P 500 Index has recovered 1.25% today, arguably a very strong performance. However, if one is willing to look at the recent performance with a wider lens, he might note that the failed attempts at the late-February high have not been resolved.
The most important attribute of binary options is that your maximum risk and potential profit are clearly defined, no guess work is required. Take last October’s sell-off, that at the time appeared like it could be the big one.