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April 7th - Russias crude oil prices rose to their highest level in over 13 years as the global oil price surge triggered by the situation with Iran. According to Argus Media, on April 2nd, the price of Russias flagship Urals crude reached $116.05 per barrel at Primorsk, Russias largest oil export facility on the Baltic coast. This price, excluding transportation costs, is almost double the average of $59 per barrel assumed in Russias budget this year. Amid the ongoing conflict between Russia and Ukraine, substantial oil revenues are easing the Kremlins financial pressure.According to Irans Nour News, power outages have occurred in parts of Karaj, Iran, due to artillery shells hitting power transmission lines.Qatar maintains that the post-war Hormuz Agreement should not exclude any parties in the region.Qatar maintains that the post-war Hormuz Agreement should include international guarantees.April 7th - Shipping data from the London Stock Exchange Group (LSEG) and Kpler showed that crude oil exports from the Saudi Red Sea port of Yanbu fell by approximately 15% week-on-week in the week ending March 30th, averaging nearly 3.9 million barrels per day, compared to an average of nearly 4.6 million barrels per day the previous week. Kpler analyst Johannes Rauball stated, "The decline in exports likely reflects issues with vessel availability and unloading times." A shipping industry source indicated that Houthi statements regarding a possible attack on the Bab el-Mandeb Strait have caused some shipowners to hesitate to send vessels to the port.

Despite Bearish BTC Session, BTC Fear & Greed Index Avoids Sub-30

Daniel Rogers

Nov 08, 2022 16:18

 截屏2022-11-08 下午4.10.25.png

 

Bitcoin (BTC) declined by 1.54% on Monday to end the day below $21,000 for the second consecutive session. BTC and the broader market dissociated from the NASDAQ Composite Index, as crypto investors await the US CPI report this week. The Bitcoin Fear & Greed Index decreased from 33/100 to 31/100 as the bearish BTC session weighed on the index.

 

Bitcoin (BTC) decreased by 1.54% on Monday. Sunday's closing BTC price was $20,609, following a 1.79% fall. Notably, Bitcoin closed the day for the second consecutive session below $21,000.

 

BTC reached a day's early high of $21,083 despite a shaky start. BTC reached a late-day low of $20,421 after failing to surpass the First Major Resistance Level (R1) at $21,240. Before partially recovering to $20,609, BTC fell through the First Major Support Level (S1) at $20,762 and the Second Major Support Level (S2) at $20,592.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads beginning at 0 pips and commissions of $3.50 every 100k traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

A lackluster economic calendar in the United States hindered BTC. This week, US inflation, retail sales, and consumer sentiment data will impact market sentiment towards the US economy and a December Fed turn.

 

However, the NASDAQ Composite Index increased by 0.85% on Monday, as optimism surrounding the US midterm elections provided support. Later today, the US economic calendar will feature another day of inactivity, leaving investors in suspense as the attention remains on the midterm elections. The NASDAQ mini was up 15.5 points this morning.

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