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UK Treasury: Chancellor of the Exchequer Reeves is expected to announce a series of major reforms to give Parliament the power to approve key energy projects.Futures News, May 20th: Economies.com analysts latest view: Spot gold prices continued their recent decline in intraday trading, remaining below the key support level of $4500, further confirming the validity of the bearish breakout and the continuation of selling pressure in the short term. Spot gold is also currently below its 50-day exponential moving average (EMA50), a technical signal that continues to exert negative pressure and reinforces the current downtrend. Since breaking below the major short-term uptrend line, the bearish outlook for spot gold has further strengthened, indicating that market dominance has shifted to the bears. Furthermore, momentum indicators such as the Relative Strength Index (RSI) continue to release negative signals, suggesting that with selling momentum dominating, the probability of further declines in spot gold prices remains high.May 20th, Futures News: Economies.com analysts latest view: WTI crude oil futures prices have been fluctuating within recent intraday ranges, attempting to accumulate more upward momentum to help break through the stubborn resistance level of $104.00. Currently, the price is finding solid technical support trading above the 50-day exponential moving average (EMA50), further solidifying the stability of the main bullish trend. Meanwhile, the price is moving along the primary and secondary uptrend lines, providing strong support for this positive movement. On the other hand, the negative signal from the Relative Strength Index (RSI) is limiting the prices ability to rebound further, which explains the current volatility and suggests that the market may maintain a cautious trading atmosphere until the price gains sufficient buying momentum to break through the aforementioned resistance level.May 20th, Futures News: Economies.com analysts latest view: Brent crude oil futures have been fluctuating within a range recently, while preparing to challenge the strong resistance level of $109.00. Prices remain supported by trading above their 50-day exponential moving average (EMA50), further solidifying the stability of the short-term bullish trend, while the upward trendline provides strong support for this positive structure. Furthermore, the Relative Strength Index (RSI) is releasing positive signals after the previous overbought conditions eased, leaving more room for prices to test higher resistance levels in the short term.On May 20, President Xi Jinping held talks with Russian President Vladimir Putin at the Great Hall of the People in Beijing. Xi Jinping pointed out that in recent years, facing a complex and volatile international situation, China and Russia have adhered to developing a comprehensive strategic partnership of coordination for a new era on the basis of equality, mutual respect, good faith, and win-win cooperation. Political mutual trust has been continuously deepened, and cooperation in trade, investment, energy, science and technology, culture, and local areas has been steadily promoted, further strengthening people-to-people bonds. China-Russia relations have entered a new stage of more proactive and faster development.

DOGE Eyes a Return to $0.0850 to Aim for $0.090 as FTX Contagion Declines

Daniel Rogers

Nov 23, 2022 15:37

截屏2022-11-23 下午2.24.11.png 

 

On Tuesday, both Dogecoin (DOGE) and shiba inu coin (SHIB) snapped two-day losing streaks. FTX contagion risk diminished as word of FTX cash holdings and investor interest in FTX assets spread. However, technical indications remain gloomy, with exponential moving averages (EMAs) predicting additional declines.

 

On Tuesday, dogecoin (DOGE) gained 5.23 percent. Reversing Monday's loss of 2.99%, DOGE ended the day at $0.0785. Notably, DOGE closed the day below $0.0800 for the third session in a row.

 

The mid-morning low for DOGE was $0.0729. Avoiding the First Major Support Level (S1) at $0.0715, DOGE climbed to a high of $0.0796 in the early afternoon. At $0.0774, DOGE surpassed the First Major Resistance Level (R1) before retreating. However, a late surge caused DOGE to surpass R1 and close the day at $0.0785.

 

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 as low as 0 pips and a commission rate of $3.50 per 100,000 USD 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.

 

On Tuesday, the price of Shiba inu coin (SHIB) increased by 4.76 percent. SHIB closed the day at $0.000000881, reversing Monday's decline of 4.21%.

 

In line with the larger market, SHIB reached a low of $0.00000817 during midmorning. Finding support at the First Major Support Level (S1) at $0.00000816, SHIB surged to a high of $0.00000883 by early afternoon. At $0.00000873, SHIB surpassed the First Major Resistance Level (R1) and closed the day at $0.00000881.

 

FTX contagion risk diminished on Tuesday, providing assistance to DOGE, SHIB, and the broader market. Updates on FTX's assets revealed a substantial cash position, which would mitigate the impact of the company's bankruptcy on its creditors.

 

Reports that Justin Sun of Tron and Brad Garlinghouse of Ripple are interested in FTX assets generated additional support.

 

Nonetheless, Twitter news remained unfavorable for DOGE. There was no new information on Twitter's resumption of the crypto integration project that would promote DOGE adoption.

 

However, investor sentiment increased significantly this morning. Risk of FTX contagion remains the primary motivator. Until the court reveals who FTX's creditors are, downside risks will persist. On Tuesday, the bankruptcy judge ruling over FTX decided to redact the identities of FTX's creditors.

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