Maurizio Priamo @Maurizio_P: "Subject: Market Update Dear investors, The week..."

Italy

Subject: Market Update Dear investors, The week closed on a positive note for the portfolio, in line with the strength shown by major equity indices. Nevertheless, we continue to maintain a cautious approach. On the macro side, $OIL prices experienced significant volatility: initially declining following news of a potential ceasefire, then moving higher again over the weekend after recent statements from Trump and Netanyahu. The situation therefore remains far from resolved. The longer geopolitical instability persists, the greater the risks to global energy supply. At present, the market appears to be pricing in a relatively optimistic scenario, with both the $SPX500 and the $NSDQ100 continuing to push to new highs, alongside overbought technical signals. $GOLD is also in an interesting phase: it has been trading sideways for some time, with volatility compressing into a pattern that typically precedes a more directional move. The breakout—either to the upside or downside—will largely depend on how the geopolitical landscape evolves in the coming months. Personally, I continue to believe that the Middle East crisis will not be resolved in the near term and that its potential impact may be underestimated by the market. For this reason, our strategy remains unchanged: participate in the upside while staying disciplined and vigilant. Thank you for your continued trust. Maurizio

Not investment advice. The author may have financial interests in the mentioned instruments.