In the past week, some of the inflationary pressure in the market dissipated with a major sell-off across the commodities complex. The Fed’s policy talk helped spur a surge in the dollar, which was part of the reason for the selling.
But the first catalyst was a move by China to cool the hot commodities markets. Reuters reported that a Chinese...
Gold miners are affected by the price of gold,
which in turn is affected by interest rates because gold does not provide any interest or dividend income, and when interest rates rise, the opportunity cost of owning gold increases, making it a less attractive store of value.
Looking to retest @ 1670
China slaps Alibaba with $2.8 billion fine in anti-monopoly probe. I will take this as good news as least we know, its consider like end of trouble for Alibaba.
Good to nimble at 100W MA. Break below 200W MA not a good sign. (Price below $200)
FuboTV popped 12.7% Friday after the sports-focused streaming service announced a deal for the exclusive rights to a major set of soccer matches.
Price supported by 200D MA.
Break and closed below recent low @ $20, the bear will continue.
Uptrend still intact.
WTI recovered back to Pre-Covid price level when it started to fall since Jan 2020.
To break above the resistance level, we need a strong reason. For now, it should be:
1) Reopen of Economy (Require more oil consumption)
2) Biden takes first military action with Syria strike on Iran-backed militias