Oil prices rebounded slightly on Friday but are still expected to show losses for the week due to concerns about slowing growth in the US and China. US crude futures rose 2.7% to $70.41 per barrel, while the Brent contract increased by 2.5% to $74.33 per barrel.
Bitcoin (BTC/USD) on its way to reach the 20k milestone
2019-11-11 • Updated
The Bitcoin continues to be the protagonist of the main headlines of the media that cover the movements of cryptocurrency, since during the weekend reached the important psychological level of 19,000, also renewing its highest level of all time. The yields of the BTC, according to the latest data, already exceed 80%.
However, due to the growth that cryptocurrency has had in a meteoric manner, concerns that this is the indicator that there is a bubble on the verge of bursting to continue to keep investors wary of maintaining long-term positions. According to the latest reports, it is speculated that the price of Bitcoin has been inflated in an artificial way for the benefit of speculators.
On the other hand, Bitcoin futures, listed as XBT, show a consolidation above the level of 18,000. According to the technical outlook, there is still a follow-up of a bullish trend line projected from the lows of December 10th, providing dynamic support to cryptocurrency in the short term.
What do we expect?
According to our projections in the H1 chart, the Parabolic SAR is supporting the idea that Bitcoin is entering a slight corrective phase, which will allow consolidating some of the gains recorded over the weekend. The price has already reached the Fibonacci target of -23.6% at 19,114 and this is the indicator that take profit's orders are being activated, before reaching the key psychological level of 20,000.
China's economy is rocketing. On the other hand OPEC+ countries take the decision to cut the production. What will be the impact on the oil price?
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
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.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.