EUR/USD 1.15853
-0.568%
Gold 4458.14
-3.118%
Oil 82.713
-0.301%
USD/JPY 160.075
0.430%
GBP/USD 1.35378
-0.402%
GBP/JPY 216.693
0.027%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
August 29th - On August 28th local time, the U.S. Central Command stated that the United States continues its naval blockade of Iran. As of the 28th, U.S. Central Command forces had guided 82 merchant ships to change course, rendered 3 merchant ships incapable of navigation, and boarded and inspected 2 other merchant ships.The U.S. Energy Information Administration (EIA) projects that U.S. oil production will average 13.83 million barrels per day in August, up slightly from 13.82 million barrels per day in July; September production is projected to average 13.77 million barrels per day.U.S. Central Command: 82 vessels were redirected in the Strait of Hormuz, 3 were interfered with, and 2 were boarded to ensure compliance.On August 29th, US President Trump announced on social media that the United States had reached an agreement with Venezuela, gaining "majority control" over more than 65 billion barrels of Venezuelas proven oil reserves. Trump stated that the US and Venezuela collaborated, through partnerships with private companies, to acquire "majority control" of over 65 billion barrels of Venezuelas proven oil reserves, with US taxpayers bearing no cost. Trump claimed that this deal "will more than double the US oil reserves, significantly increase oil supply, and significantly reduce US gasoline prices for a long time to come." However, Trump did not disclose the specific details of the agreement, and the White House has not yet released an official statement.On August 29th, NBC News, citing two sources familiar with the matter, reported that US Defense Secretary Peter Hegseth has been discussing the possibility of running for president in 2028 with close associates in recent months. Hegseth and his wife believe he shares some similarities with Trump, including a tough, confrontational style and conservative stances on social issues, which could garner support from the MAGA base. This month, Hegseth also traveled to Iowa to campaign for Republican lawmakers. Iowa has long been a key outpost in US presidential elections, further fueling speculation that he is preparing to run. If he does run, Hegseth could compete with Vice President JD Vance, Secretary of State Rubio, and others. However, a Pentagon spokesperson denied the claims, stating that "Secretary Hegseth will not run for president," and that his primary focus remains leading the Department of Defense. The report points out that the ongoing war with Iran could be a major political burden for Hegseth, with 18 US military personnel already killed and the average US gasoline price rising from less than $3 per gallon to slightly over $4.

S&P 500 Weekly Price Forecast – Stock Market Has Rough Week

Steven Zhao

Nov 07, 2022 15:32


Technical Analysis of the S&P 500

During the trading week, the S&P 500 plunged very sharply, approaching the 200-Week EMA. It will be challenging to understand what you were going to do next at this point because the market is probably going to continue to experience a lot of back-and-forth. A significant move to the downside is now possible if we break down below the 3600 mark at this moment. If that were to occur, I believe the S&P 500 would likely decline below the 3400 level, then the 3300 level.


On the other side, if we are able to move the market over the 3900 level and through to the 50-Week EMA, which is just above the 4000 level, it is possible. It will probably be more or less a "fade the rally" type of event because I believe we still have a ways to go before changing the general attitude. Due to this, the market is likely to perceive this as a situation in which we must use the weekly chart as a guide, but may also need to look at a lower timeframe, such as the daily or 4-hour chart, to start things moving in the wrong direction.


Given that the Federal Reserve has restated its aim to keep interest rates low for a longer period of time, the magnitude of the candlestick engulfs the preceding one, which does indicate that there will likely be selling pressure moving forward.

Suggestion