Friday, 23 April 2021

Gold Analysis for Traders by Money Life Research

 📕 Comment on Gold April 23, 2021:



 ‼ ️ At the end of last trading session, gold precious metal had a decrease from 1797 to 1777 (20 $) after touching MA20 on W1 week time frame, closing yesterday session at 1783 price range.  Selling appeared at around 1797 but after reaching around 1777 the price started to appear further buying pressure on the weekly chart. The buying force is still supporting the uptrend.

 - Moving to a shorter time frame than H4, we can see that the last 3 H4 trees are all withdrawal candles after touching 1777, proving that in the short term, there has been a lot of buying power to support the coin  direction of increase.  So in my opinion in the beginning of today's session we can make a buy position on this precious metal here.  The safe target will be around 1795. Here we can make liquidity and watch for sell signal with this precious metal.

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Gold Signals

Thursday, 22 April 2021

Comment on Gold April 20

  ‼️ ️ At the end of yesterday's session, the world gold price had a 1-day decline from 1790 to 1766 ($ 24), closing the day with a bearish candle after strong gains.  This is also the necessary downward momentum for this precious metal to go to higher price ranges and in my opinion, after dropping its correction to 1766 last night, there are supportive forces to  pushing up this precious metal price during the day.


 - After hitting the strong resistance zone at 1790, gold price had corrections and in my opinion this is a downside to turn up because on the weekly chart, the trend is still in favor of buying, in addition to the continuous strong downward momentum.  of the USD index, this also supports the uptrend of Gold.

 - Considering on a shorter time frame than H4, the precious metal currently tends to decrease to around the old support zone of 1758-1763.  In my opinion, this is the support zone to push up the price of gold precious metal during the day.  Here we can establish a buy position on Gold precious metal with a safe profit-taking target around 1770-1775 at the beginning of today's session.

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Wednesday, 21 April 2021

WEEKLY OVERVIEW ON Cryptocurrencies

 


Weekly changes: BTCUSD +4.34%


Coinbase's initial public offering captured the imagination of traders across the world this week as the regulated U.S. crypto exchange entered Nasdaq. The listing of Coinbase on a major US exchange had been seen as a major milestone for the cryptocurrency industry. Coinbase's share price spiked towards the 430 USD resistance level on the day of the IPO, a reserve listing price of 250 USD.


News that Turkey was moving to ban cryptocurrency payments hit bitcoin and the altcoin space this week, with the Turkish central bank implementing the ban on 30 April. Bitcoin peaked close to 64,894 USD this week and then fell back towards the 60,000 USD level on Turkey's bearish news.


KEY POINTS


The BTCUSD pair dropped sharply during the weekend. The pair is trading at 57,055 USD on the four-hour chart, which was the lowest it has been since March. As a result, the pair has moved below the 25-day and 15-day moving averages. The pair could try to rebound this week as bulls target the year-to-date high to close to 65,000 USD.


Governments are inspecting risks around the cryptocurrency market closely as the investor base widens. Turkey's central bank banned the use of cryptocurrencies as a form of payment from 30 April, saying the level of anonymity behind the digital tokens brings the risk of "non-recoverable" losses.

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Weekly Indices News For Trading

 Indices

MARKET VIEW



Weekly changes: SPX500 +1.64%


The United States posted another string of solid data points this week. Inflation, retail sales, and weekly jobs data all posted positive surprises. The United States Consumer Price Index inflation reading jumped to 9.1 per cent, marking the sharpest increase in nine years.


A bump to U.S. Retail Sales figures also complemented the strong CPI numbers, which showed a massive 9.8 per cent monthly increase. Weekly jobless claims also fell by nearly 200,000 from the previous week to a new pandemic low. The overall market reaction saw stocks surge and bond yields fall, although the U.S. dollar failed to follow through and remained under pressure.


KEY POINTS


Technology has been the top-performing SPX500 sector, while the extensive tech-related growth stocks such as Amazon Inc, Tesla Inc and Alphabet Inc have also charged higher. Technology stocks were outpaced by shares of banks, energy companies, and other economically sensitive sectors that have surged since breakthroughs in COVID-19 vaccines.


The earnings season will continue this week which impacts the global stock market. Some of the companies that will publish their results today are IBM, Coca-Cola, United Airlines, Steel Dynamics, and Prologis. Analysts expect that most of these firms will either report strong sales or boost their forward guidance because of the overall economic recovery.


Most traders are still bullish this year with the stimulus. The Fed is committed to being dovish with the economy reopening due to vaccinations and overall corporate earnings rising.

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