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ETH On That BuLLish Run?It appears institutional money has suede the market in this potential breakout from this downward trend from early Sept. Twitters CEO, Jack Dorsey bagged $50M of bitcoin, which gave the crypto market some nice price action to the upside, but it seems that was only the match that started the fire within this bullish run. It was Trump who poured gasoline on this fire by pushing forward with much need stimulus to airlines. This should be a good sign more stimulus is to come. Therefore, ETH’s 9EMA has just crossed the 200EMA, which is a strong move that means there should be some continuation to the upside. Cheers!
Long
by AB_Trading-Intelligence
SPHealth 2 Week Comparisons (Oct 7-20 2020)SPHealth - Growth Analysis & Comparison - Cindicator Poll Submission (October 7th - 20th 2020) I've been looking through my Cindicator questions, making forecasts and watching markets as new polls pop up. Here's a comparison chart for 5 major S&P health companies and my rankings forecast. (Descending order from most growth to least) United Health Group Inc (UNH) Abbott Labs (ABT) Johnson & Johnson (JNJ) Pfizer Inc. (PFE) Merck & Co. (MRK) This forecast will be explicitly graded by total growth % comparisons of opening prices on October 7th to closing prices on October 20th across the 5 aforementioned companies. As of right now before 10-9-20 daily market open, the percentage growth is as follows: UNH +1.9% PFE +1.87% JNJ +1.56% ABT +1.1% MRK +0.54% When looking at a specific metric within the already completed duration since I submitted my forecast, overall recent growth is: UNH +2.82% PFE +2.66% JNJ +2.24% MRK +2.22% ABT +1.62% 10-9-20 Forecast Adjustments: Now that I have seen the last 2 days play out, I'm starting to notice a couple things about my forecast and actual live value. I'm confident that United Health will still outperform, but this outlook could change if any major market sell off occurs before the 20th. Pfizer looks like it could be a strong runner up, and I may have flubbed my original forecast by ranking it 4th in growth. Johnson & Johnson is performing approximately as expected. Merck and Abbott Labs could be tricky to pinpoint exactly without some further research and analysis but, I'm guessing that Abbott may come in 4th place if everything settles after any quick rallies that should happen. If a light pump in Merck occurs over the 19th-20th, then there could be a small chance it outperforms Abbott for 4th but it feels like an unlikely scenario. After these deliberations, I've decided my forecast doesn't need much adjusting other than to swap the placement of Pfizer and Abbott. My updated forecast is as follows: United Health Group Inc (UNH) Pfizer Inc. (PFE) Johnson & Johnson (JNJ) Abbott Labs (ABT) Merck & Co. (MRK) One thing to note is that I believe TradingView is not calculating its percentage scale correctly, its placing the 0% Y axis at the close value of the first candle used to calculate growth. So this graph is really just more for me to check my own work by hand, as the percentages on the left will not accurately portray what is actually being graded by Cindicator. I'll check back in after the 20th to see how this turned out! Thanks for tuning in :) Disclaimer, I am not responsible for any losses incurred while attempting to use my data, I hope this can prove to be some sort of learning tool for some and give insight as to how I personally come up with my own numbers. Take into full consideration this could be a completely bad forecast. Cheers
NYSE:UNH
by Hambooger
WTI rose on support from output shutdowns ahead of storm in USCrude prices edged higher, touching levels of $43 on support from output shutdowns ahead of a storm in the U.S. Gulf of Mexico and prospect of supply losses in Norway along with hopes for some U.S. COVID relief aid supported prices. Prices got supported after reports of Saudi Arabia considering reversing course over OPEC’s planned production increase early next year which is definitely a positive for the markets. Optimism over additional fiscal support in U.S. resurfaced, but the back and forth between policymakers could see volatility linger for a while yet. For Norway, Oil firms and labor officials might meet with a state-appointed mediator today in an attempt both sides hope will bring an end to a strike that threatens to cut Norway’s output by some 25%. On Hurricane front, Oil workers have withdrawn from U.S. Gulf production facilities as Hurricane Delta was forecast to intensify into a powerful, Category 3 storm. Nearly 1.5 Mbpd of daily output was halted and forecast indicates that markets can lose almost 5MB in this storm, supporting prices. The crude oil supply events along with positive talks for Stimulus will keep prices supported for coming session. Suggestion: BUY WTI OIL FROM 40.55-60 SL BELOW 40 TGT 42 ELSE SELL BELOW 39.50 TGT 38.70 SL ABV 40.60
TVC:USOILLong
by OfficialYaMarkets
Sterling ahead of 1.3015, level which should mindful again::Thursday, as can be seen from the H4 chart, retested the 1.29/channel support (1.2805) combination and held firm, printing a close back above October’s opening value at 1.2925. This has potentially transferred energy back towards the key figure 1.30 ( surrounded by H4 resistance at 1.3009 and daily resistance at 1.3017).017/1.30 resistance (red area on the H4) remains a zone to be mindful of. The break back above October’s opening value at 1.2925 is likely to spark intraday bullish scenarios to 1.30. Violating 1.29 and channel support (H4), extended from the low 1.2805, would help confirm bearish strength south of daily resistance at 1.3017 and may see H4 hone in on 1.28, which happens to merge closely with daily trend line support coming in from the low 1.2075.
Long
by OfficialYaMarkets
1
Gold bottomed out post Trump asked Nancy to review stimulus billGold prices edged higher in the early morning session, supported by a weaker dollar and optimism over a new U.S. coronavirus relief aid after resident Donald Trump said talks with Congress have restarted. Giving a contrary statement as compared to few days back, President Trump said there was a good chance a deal over COVID-19 relief could be reached, but gave no other details about a possible agreement. Market participants today will focus on the policy meet scheduled on the domestic front and expectation is that the central bank could maintain rates unchanged but importantly investors will be keeping an eye on the stance that RBI adopts for inflation. Gold-backed exchange traded funds added more than 1,000 tonnes of bullion worth $60 billion at current prices to their stockpile in the first nine months of 2020, driving a sizzling price rally, according to World Gold Council (WGC). Technical: Gold trading at 1910 in asian session rose about 0.85% from the recent low 1872. H4 perceptive, we observed head and shoulders pattern where the break is needed above 1916 for the same to rise till 2000 as per pattern calculation, with a hurdle at 1922 or 200ma. Trading above 1900 is the one where one can make every dip as a buy on every dip till it holds above. Downside a break below recent low 1871 can test the 1845 which is daily support. For the day perceptive one can wait for the drop till 1900-04 zone for fresh buys witha 1902 as day support and 1893 as a pivot which tested already. Overall buy on dips is advised for the day. Suggestion: BUY GOLD FROM 1902-04 L BELOW 1885 TGT 1922 ELSE SELL BELOW 1885 TGT 1871/1865 SL ABV 1905
OANDA:XAUUSDLong
by OfficialYaMarkets
Bitcoin bullish bias Hello trader!! As I predicted on the DXY post, the dollar has experienced a short strenght on September, which coincides with a weakness of the cyrptomarket After a bearish month on the main crypto asset, we could see a new bullish scenario for the upcoming months. The price has been moving on a range between 10.000- 11500 USD, creating some uncertainty on the crypto world. Having a look on the past months, since the halving, Bitcoin hasn't experienced a rectracement or something similar. Therefore, as September use to be a bearish movement on the coin, we can take all this fear generated due to this movement, as a corrective movement. On the other hand, price has rejected both MA20 and EMA9 which can indicate us a buyers preassure. Therefore, if the price breaks the commented range (10k-11,5k), we could see a new bullish impulse on the next weeks. I'll keep updating.
COINBASE:BTCUSDLong
by Ometrading
Crude firm as EIA showed that fuel demand improvedWTI Crude prices dipped over 1.7 percent to close at $40.2 per barrel as surge in U.S. Crude inventory levels clouded the demand outlook for Crude; however, lingering supply worries limited the fall. As per reports from the Energy Information Administration, U.S. Crude inventory levels rose marginally by 501,000 barrels in the week ending on 2 nd October’20. However, the losses were limited as Hurricane delta rapidly approached the U.S. Gulf coast forcing the energy companies to shut around 17% of total U.S. crude output in an attempt to avoid any damage. Failed wage talks between the union and the Norwegian Oil and Gas Association (NOG) triggered a strike leading to the closure of Six Norwegian offshore oil and gas fields. More number of workers going on strike over the wage issue risked an output of 330,000 barrels of oil per day alos supported Oil prices. Suggestion: BUY USOIL FROM 40 SL BELOW 39.40 TGT 40.50/40.90 ELSE SELL BELOW 39.40 TGT 38.80/60 SL ABV 40.20
TVC:USOILLong
by OfficialYaMarkets
Gold on mixed note as mixed statements reg stimulus bill ::Gold prices were steady as mixed statements regarding the new Coronavirus relief bill, kept the bullion afloat. Top White House officials downplayed the possibility of more coronavirus relief, while House Speaker Nancy Pelosi disparaged U.S. President Trump for backing away from talks on a comprehensive deal. U.S. Federal Reserve policymakers split over how to apply a new strategy for monetary policy at their September meeting, and, amid growing doubts about the path of the economy, offered no clear sense of their next steps to offset the coronavirus recession, minutes from their September meeting showed. Apart from BOE and ECB meeting minutes scheduled later in the day wherein comments from their respective Governors will be important to watch for, market participants will also focus on the US weekly jobless claims data; if recorded better than expectations it could support the metal prices. Technical: we like to monitor H4 support at $1,871 today. A H4 close below $1,871 could trigger bearish scenarios to H4 support at $1,835, which sits just under daily support at $1,841 (the next downside target on the daily timeframe). A decisive rebound from $1,871, nevertheless, suggests the pendulum may swing in favor of weekly bulls off support at $1,882.
OANDA:XAUUSDShort
by OfficialYaMarkets
BTCUSD WEEKLY & DAILY - SHORTEveryone has seen the daily triangle and is predicting a break out up or down. You don't have to be a scientist rocket for this. You also don't have to be a scientist rocket for the next part. I think BTCUSD is more likely to break down and find support around $9200 or fib retracement Level 0.382. Here's why. 1. Weekly MACD crossed over bearish 2. RSI & CCI both pointing down 3. Volume decreasing 4. Of the two Triangles Shown, the first triangle used the weekly EMA10 for Support. The Second Triangle is struggling to stay above it. Of course price can reverse and break up but I see a bearish sentiment. Also consider the weird times, Trump, the US elections, and COVID. Now is the time to potentially cash out of some assets and go to cash to look for cheaper buy opportunities.
BITMEX:BTCUSD.PShort
by Hungryman34
1
DXY $Index Cup & Handle Pattern H2 Chart Target 94.40(23.6%Fib.)INDEX:DXY Update for DXY...After "No Stimulus 'til after Election" triggers market to buy $Index(DXY). Previously, as linked ideas, I had called for a DXY bounce at beginning of September. DXY proceeded to bounce from its 2011 Long Term upwards trendline, retracing to the 23.6% Fibonacci level($94.40) of the March to September drawdown. From there I forecasted that DXY would come back to test the 14% Fib. area and the local trendline(blue dotted upward sloping). The news of no stimulus conveniently triggered "Risk-Off", subsequently turning the market to the safety of US Dollars(DXY). On the 2-Hour Chart I see a cup & handle formation. The handle retracement looks complete at 50% Fibonacci retracement, subsequently reclaiming the(blue dotted) upward trendline. The target for the measured move is back to the 23.6% Fib. area of $94.40.... Again, I maintain my stance regarding the DXY as I will copy paste my previously published analysis statement: Oct 1 INDEX:DXY I had been calling for DXY to retrace after reaching the 23.6%($94. 40 ) back to local trendline and 14% Fib. The DXY pulled back to $93.53, just shy of the 14%, as well as the local trendline(blue dotted line). Now we find DXY regaining its corrective momentum to the upside. I still contend that the 138.2%($95.39) Fibonacci extension of correction is in play, and perhaps the 38.2% Retracement ($96.04)! Perhaps the final corrective wave(call it "C" or "Y") will end in a 5 wave diagonal, not impulse? To reiterate; I believe DXY is following a similar trend as in 2016 during the election period in the USA! In 2016 $Index was able to rally through the election into early January, 2017. It was at that point that the DXY began to breakdown for one year. During this time Bitcoin (& Crypto) inversely correlated, and of course was able to rally to its ATH as the $Index found a bottom in January, 2018. From there the Dollar has rallied up until March of this year(2020), at which point the Dollar again broke down, and has found support on its Long Term trendline. I believe a similar pattern will play out, give or take a month or three, and DXY will eventually break below the 2011 trendline. Let's see how it all goes....
TVC:DXY
by TheFreeCryptoPress
Trump abandoned stimulus talks, Gold fell to one week lowGold prices on Wednesday hovered near a one-week low hit in the previous session, after U.S. President Donald Trump halted new stimulus talks, bolstering the dollar. Prospects for more aid for Americans struggling through the COVID-19 pandemic and U.S. airlines seeking to avert a wave of layoffs crumbled on Tuesday when Trump ended negotiations until after the November election. U.S. and European central bankers called for renewed government spending to support families and businesses as the battle against the coronavirus triggered recession enters a newly critical phase, giving some support to gold on lower levels. Economic calendar is fairly light today on data front, although market participants will keep an eye on the FOMC minutes scheduled later in the day, wherein comments from the fed governor will be in focus. Holdings in SPDR gold Trust, the world’s largest gold backed exchange traded fund, fell 0.32% to 1271.52 tonnes on Tuesday. Technical: H4 resistance at $1,916 held back buyers, with the candles settling the session just north of H4 support coming in at $1,871. Daily price also receded lower from resistance at $1,911, aided by trend line resistance, extended from the high $2,075. Shaped in the form of a bearish outside day reversal, the daily chart reveals scope to approach support at $1,841. While both the daily and H4 timeframes eye lower levels, traders might want to take into account that weekly price remains circling a support level at $1,882. In addition to this, the trend in this market has faced decisively north since 2016. Sellers are likely monitoring H4 support at $1,871 today, as a push through here shines the spotlight on H4 support at $1,835, which sits just under daily support at $1,841 (the next downside target on the daily timeframe). Consequently, a H4 close below $1,871 could trigger bearish scenarios, while a decisive rejection from $1,871 suggests the pendulum may swing in favour of weekly bulls off support at $1,882.
OANDA:XAUUSDShort
by OfficialYaMarkets