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The Hang Seng Index closed down 237.75 points, or 0.93%, at 25,413.12 on Monday, September 7; the Hang Seng Tech Index closed down 42.09 points, or 0.92%, at 4,527.71 on Monday, September 7; the H-share Index closed down 125.3 points, or 1.46%, at 8,429.73 on Monday, September 7; and the Red Chip Index closed down 37.01 points, or 0.88%, at 4,176.45 on Monday, September 7.September 7th - Chinas gold reserves at the end of August were 76.73 million ounces (approximately 2,386.57 tons), an increase of 650,000 ounces (approximately 20.22 tons) month-on-month. This marks the 22nd consecutive month that the Peoples Bank of China has increased its gold holdings.Iranian Foreign Ministry spokesman Bagaei said an agreement on a temporary passage through the Strait of Hormuz will be reached in the coming days.On September 7th, the Shanghai Council for the Promotion of International Trade (CCPIT) announced arrangements for the Beijing and Shanghai Auto Shows: To properly address industry concerns, the Shanghai CCPIT and the automotive industry CCPIT, after multiple rounds of consultations, held a special coordination meeting on September 3rd regarding the Beijing and Shanghai Auto Shows. Adhering to the principles of frankness, pragmatism, prioritizing the overall situation, and mutual benefit, both sides fully discussed matters such as the standardized organization and collaborative cooperation of the two auto shows, reaching important consensus. Both sides agreed to continue maintaining the existing pattern of holding comprehensive auto shows every other year. The Beijing Auto Show, to be held in Beijing in March 2027, will be presented as a specialized themed exhibition. This arrangement continues the long-established and mature exhibition mechanism, which is conducive to coordinating industry resources, avoiding overlapping exhibition functions, and better serving the high-quality development of the automotive industry.According to RIA Novosti, Russia has stated that favorable conditions for dialogue with the United States on strategic stability have not yet been established.

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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