ONLINE FOREX BROKER
2019-11-11 • Updated
Finally, Bitcoin has entered a consolidation stage around the resistance level of 9609, after a week where the bulls managed to gain traction in the short term. The short-term objective is still set at the level of 9759, where a break could validate the idea of a more mature uptrend for the next few days.
Moving averages continue to be aligned in favor of this bias, so it is possible that profits continue during this week. However, a pullback is not ruled out to begin correcting the uptrend that began on May 1, although the Parabolic SAR is favoring the bulls at the moment.
What do we expect?
According to our forecasts in the H1 chart, cryptocurrency aims to reach new highs across the board and we are likely to see a break above the 9759 level, then go towards the Fibonacci level of -23.6% at 10066, which would mean a lasting bullish consolidation. On the downside, the next support level lies at 8640. The RSI indicator is entering neutral territory, favoring a consolidation.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
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Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.
Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
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