#marketanalysis #stockmarket #stocks
The UK100 price plummeted after the publication of inflation data
Yesterday, the stock market in the United Kingdom experienced a sharp decline following the release of new inflation data. The UK100 price, reflecting the leading British stock index FTSE, dropped approximately 1.5%. Moreover, the RSI indicator on the 4-hour chart fell below the value of 18 for the first time since July 2023.
Analysts attribute this decline to the published inflation data, which not only failed to meet economists' expectations but also indicated a possible strengthening of inflationary pressure in the country. CPI values: actual = 4.0%, expected = 3.8%, previous value = 3.9%.
This raised concerns among investors regarding the Bank of England's future steps in managing interest rates and the potential slowdown in the country's economic growth.
Sectors most sensitive to changes in interest rates, such as real estate and finance, showed the greatest decline. Significant decreases were also observed in the stocks of companies in the retail and consumer goods sectors, reflecting growing concerns about consumer confidence and spending.
The UK100 chart shows that:
→ the price dropped to the lower boundary of the channel, indicated in blue;
→ market weakness could be inferred from the inability of the UK100 price to stay above the September maximum in December, as well as price action around the 7665 level, which switched roles from support to resistance.
If new negative news emerges for the stock market, support from the lower boundary of the channel may be breached. In that case, it is not excluded that the UK100 stock index will decline to the level of 7300, which served as strong support throughout 2023.
Trade global indices with zero commission and tight spreads with FXOpen. Open your account now or learn more about trading index CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
The UK100 price plummeted after the publication of inflation data
Yesterday, the stock market in the United Kingdom experienced a sharp decline following the release of new inflation data. The UK100 price, reflecting the leading British stock index FTSE, dropped approximately 1.5%. Moreover, the RSI indicator on the 4-hour chart fell below the value of 18 for the first time since July 2023.
Analysts attribute this decline to the published inflation data, which not only failed to meet economists' expectations but also indicated a possible strengthening of inflationary pressure in the country. CPI values: actual = 4.0%, expected = 3.8%, previous value = 3.9%.
This raised concerns among investors regarding the Bank of England's future steps in managing interest rates and the potential slowdown in the country's economic growth.
Sectors most sensitive to changes in interest rates, such as real estate and finance, showed the greatest decline. Significant decreases were also observed in the stocks of companies in the retail and consumer goods sectors, reflecting growing concerns about consumer confidence and spending.
The UK100 chart shows that:
→ the price dropped to the lower boundary of the channel, indicated in blue;
→ market weakness could be inferred from the inability of the UK100 price to stay above the September maximum in December, as well as price action around the 7665 level, which switched roles from support to resistance.
If new negative news emerges for the stock market, support from the lower boundary of the channel may be breached. In that case, it is not excluded that the UK100 stock index will decline to the level of 7300, which served as strong support throughout 2023.
Trade global indices with zero commission and tight spreads with FXOpen. Open your account now or learn more about trading index CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
#marketanalysis #oilprices #oilindustry
OPEC Forecasts an Increase in Oil Demand in 2024
Yesterday, the monthly oil market review was published:
→ OPEC expects global oil demand to increase by 2.25 million barrels per day (b/d) in 2024, representing a 2.2% increase compared to 2023.
→ In 2025, OPEC predicts a demand increase of 1.85 million barrels per day, reaching 106.21 million barrels per day. It is anticipated that the growth in oil consumption in 2025 will be driven by China, the Middle East, and India.
This aligns with Occidental Petroleum's perspective, where they anticipate a global oil shortage starting in 2025, as the pace of global oil demand growth is roughly four times higher than the volumes of new reserves.
However, according to Citi analysts, the price of Brent crude oil in 2025 is expected to be $60 per barrel due to oversupply.
As of today, the price of Brent crude oil is fluctuating in the consolidation zone around $77 per barrel. Market participants are closely monitoring the potential for an increase in the Brent oil price due to geopolitical tensions. For instance, Maersk has reported that escalation in the Red Sea and the Gulf of Aden will lead to disruptions in global logistics.
The Brent crude oil price chart indicates that
→ the new consolidation zone is lower than the previous one when the Brent price hovered around $81.
→ the price is near the crucial level of $73, which provided market support in 2023. At that time, OPEC+ countries announced a production cut to prevent further price decline. It is possible that they will take similar measures in 2024.
→ the rapid recovery of the price from December lows indicates the strength of demand for Brent oil below $74.
Given the provided information, if the Brent price falls below $74, it may lead to its subsequent increase.
Start trading commodities with tight spreads. Open your trading account now or learn more about trading commodity CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
OPEC Forecasts an Increase in Oil Demand in 2024
Yesterday, the monthly oil market review was published:
→ OPEC expects global oil demand to increase by 2.25 million barrels per day (b/d) in 2024, representing a 2.2% increase compared to 2023.
→ In 2025, OPEC predicts a demand increase of 1.85 million barrels per day, reaching 106.21 million barrels per day. It is anticipated that the growth in oil consumption in 2025 will be driven by China, the Middle East, and India.
This aligns with Occidental Petroleum's perspective, where they anticipate a global oil shortage starting in 2025, as the pace of global oil demand growth is roughly four times higher than the volumes of new reserves.
However, according to Citi analysts, the price of Brent crude oil in 2025 is expected to be $60 per barrel due to oversupply.
As of today, the price of Brent crude oil is fluctuating in the consolidation zone around $77 per barrel. Market participants are closely monitoring the potential for an increase in the Brent oil price due to geopolitical tensions. For instance, Maersk has reported that escalation in the Red Sea and the Gulf of Aden will lead to disruptions in global logistics.
The Brent crude oil price chart indicates that
→ the new consolidation zone is lower than the previous one when the Brent price hovered around $81.
→ the price is near the crucial level of $73, which provided market support in 2023. At that time, OPEC+ countries announced a production cut to prevent further price decline. It is possible that they will take similar measures in 2024.
→ the rapid recovery of the price from December lows indicates the strength of demand for Brent oil below $74.
Given the provided information, if the Brent price falls below $74, it may lead to its subsequent increase.
Start trading commodities with tight spreads. Open your trading account now or learn more about trading commodity CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
#stockmarket #Nasdaq #marketnews
NASDAQ 100 Reaches Historic High. META Shares May Surpass the Historical High
The American stock index NASDAQ 100 has set a new historical high, surpassing the psychological mark of 17,000 points.
The growth was attributed to:
→ Analysts at Bank of America raising the rating of AAPL stocks, recommending them for BUY. The price of AAPL shares rose by almost 4%.
→ The growth of AMD and NVDA stock prices, as chip manufacturers are significant beneficiaries due to the widespread adoption of AI.
→ The earnings season gaining momentum. Market participants anticipate strong results from major technology companies (MSFT, GOOGL, NVDA, and others).
Note the movement of META stock price – the social media giant is close to reclaiming a $1 trillion market capitalisation.
The META stock price chart shows that:
→ The market is in an upward trend (indicated by the blue channel). The price is above the median line, a sign of demand stability.
→ The level at $340 has shifted its role from resistance to support. A similar phenomenon is observed at the $360 level.
Mark Zuckerberg announced yesterday that by the end of 2024, the company's computing infrastructure would include 350,000 nVidia H100 graphics cards (designed for AI, costing between $25k and $40k each, according to CNBC).
It is not ruled out that riding on the positive momentum, the price of META shares may surpass the historical high. The publication of META's Q4 2023 performance report is scheduled for February 1, 2024.
Buy or sell shares with CFDs in some of the world's biggest publicly listed companies on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ 100 Reaches Historic High. META Shares May Surpass the Historical High
The American stock index NASDAQ 100 has set a new historical high, surpassing the psychological mark of 17,000 points.
The growth was attributed to:
→ Analysts at Bank of America raising the rating of AAPL stocks, recommending them for BUY. The price of AAPL shares rose by almost 4%.
→ The growth of AMD and NVDA stock prices, as chip manufacturers are significant beneficiaries due to the widespread adoption of AI.
→ The earnings season gaining momentum. Market participants anticipate strong results from major technology companies (MSFT, GOOGL, NVDA, and others).
Note the movement of META stock price – the social media giant is close to reclaiming a $1 trillion market capitalisation.
The META stock price chart shows that:
→ The market is in an upward trend (indicated by the blue channel). The price is above the median line, a sign of demand stability.
→ The level at $340 has shifted its role from resistance to support. A similar phenomenon is observed at the $360 level.
Mark Zuckerberg announced yesterday that by the end of 2024, the company's computing infrastructure would include 350,000 nVidia H100 graphics cards (designed for AI, costing between $25k and $40k each, according to CNBC).
It is not ruled out that riding on the positive momentum, the price of META shares may surpass the historical high. The publication of META's Q4 2023 performance report is scheduled for February 1, 2024.
Buy or sell shares with CFDs in some of the world's biggest publicly listed companies on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
#inflation #stockmarket #AAPL #MSFT #usdollar #OPEC
Weekly Market Wrap with Gary Thomson: UK100 DROPS 1.5%, USD RISES, OPEC’S FORECASTS, MICROSOFT SURPASSES APPLE
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
🔸 The UK100 Price Plummeted After the Publication of Inflation Data
🔸The Dollar Continues to Strengthen since the Beginning of the Year
🔸 OPEC Forecasts an Increase in Oil Demand in 2024
🔸 Microsoft Becomes the Most Expensive Company in the World, Surpassing Apple
Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen. Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.
https://cutt.ly/YwKB4FvC
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
To take advantage of price fluctuations in the foreign exchange markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice
Weekly Market Wrap with Gary Thomson: UK100 DROPS 1.5%, USD RISES, OPEC’S FORECASTS, MICROSOFT SURPASSES APPLE
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
🔸 The UK100 Price Plummeted After the Publication of Inflation Data
🔸The Dollar Continues to Strengthen since the Beginning of the Year
🔸 OPEC Forecasts an Increase in Oil Demand in 2024
🔸 Microsoft Becomes the Most Expensive Company in the World, Surpassing Apple
Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen. Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.
https://cutt.ly/YwKB4FvC
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
To take advantage of price fluctuations in the foreign exchange markets, consider enlisting the services of a reliable broker like FXOpen.
⚠️
This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice
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Weekly Market Wrap with Gary Thomson: UK100 DROPS 1.5%, USD RISES, OPEC’S FORECASTS, MSFT GROWS
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
00:36 - The UK100 Price Plummeted After the Publication…
00:36 - The UK100 Price Plummeted After the Publication…
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#marketanalysis #MarketNews #tradingforex
USD/JPY: The Yen Pauses in Anticipation of the Bank of Japan's Decision
In 2024, the yen has significantly depreciated against other currencies. The USD/JPY chart indicates that since the first trading day of January, the exchange rate has risen by more than 5%. However, since the 18th, there has been a lull, and it may be disrupted today or tomorrow due to the Bank of Japan's meeting, during which comments on monetary policy will be provided.
According to Reuters, traders expect that interest rates will not be raised, remaining in the negative territory. This expectation is based on recent "peaceful" comments from the Bank of Japan, coupled with the country facing a serious test in the form of an earthquake on the west coast.
Today's technical analysis of USD/JPY suggests that buyers may have lost momentum as the price approached the psychological level of 150 yen per dollar. Judging by the long upper shadow (indicated by the arrow) on January 19, selling forces were activated. This could be attributed to either profit-taking by buyers after the rally in the first half of January or the opening of new short positions.
Pay attention to an important resistance zone (shown in blue). The bearish breakthrough occurred around the 149.3 level, confirming bearish dominance at the end of the previous year. It is possible that this dominance may persist, supporting the idea that the current calm may be disrupted in favour of the bears.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
USD/JPY: The Yen Pauses in Anticipation of the Bank of Japan's Decision
In 2024, the yen has significantly depreciated against other currencies. The USD/JPY chart indicates that since the first trading day of January, the exchange rate has risen by more than 5%. However, since the 18th, there has been a lull, and it may be disrupted today or tomorrow due to the Bank of Japan's meeting, during which comments on monetary policy will be provided.
According to Reuters, traders expect that interest rates will not be raised, remaining in the negative territory. This expectation is based on recent "peaceful" comments from the Bank of Japan, coupled with the country facing a serious test in the form of an earthquake on the west coast.
Today's technical analysis of USD/JPY suggests that buyers may have lost momentum as the price approached the psychological level of 150 yen per dollar. Judging by the long upper shadow (indicated by the arrow) on January 19, selling forces were activated. This could be attributed to either profit-taking by buyers after the rally in the first half of January or the opening of new short positions.
Pay attention to an important resistance zone (shown in blue). The bearish breakthrough occurred around the 149.3 level, confirming bearish dominance at the end of the previous year. It is possible that this dominance may persist, supporting the idea that the current calm may be disrupted in favour of the bears.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
#MarketNews #cryptonews #bitcoin #BTCUSD
The Price of Bitcoin Has Dropped Below 40,000: What's Next?
The value of the main cryptocurrency has fallen below the psychological mark for the first time since December 4th of last year. According to on-chain metrics services, the decline in the price of Bitcoin on cryptocurrency exchanges triggered the liquidation of buyer positions for more than 25 million dollars in just 2 hours.
This decline confirms the significance of the three black crows pattern (indicated by the arrow) and the principle of "buy the rumour, sell the fact" – as we discussed in the Bitcoin price analysis on January 15th.
What's next? Will the price continue to decrease?
JPM head Jamie Dimon, as well as legendary investor Peter Schiff, are pessimistic. In their opinion, Bitcoin is a speculative asset. Jamie Dimon explicitly advises staying away from bitcoins, while Peter Schiff, comparing Bitcoin to gold, prefers the precious metal.
On the other hand, the current decrease may indicate a correction within an upward trend. This perspective is held by financial expert and publicist Anthony Scaramucci.
Today's Bitcoin chart shows that:
→ BTC/USD has dropped not only below the psychological mark but also below the lower boundaries A and B of the channels, shown in blue and purple on the chart.
→ The RSI indicator points to oversold conditions.
If the market shows signs of recovery, then:
→ the nature of this recovery (comparing the speed, volumes, and progress achieved relative to the decline from the peaks on January 11th) will provide important information to determine the strength or weakness of demand in the market;
→ the important psychological level at 40,000 will be considered support, an attempt to break which has failed. So far, bears are aiming to establish themselves below $40k. If they succeed, the psychological level may pose resistance in the future.
As long as the price of Bitcoin is below 44,000 (approximately 50% from the January peak), we may consider that the initiative is on the bears' side.
FXOpen offers the world's most popular cryptocurrency CFDs*, including Bitcoin and Ethereum. Floating spreads, 1:2 leverage — at your service. Open your trading account now or learn more about crypto CFD trading with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
*At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients.
The Price of Bitcoin Has Dropped Below 40,000: What's Next?
The value of the main cryptocurrency has fallen below the psychological mark for the first time since December 4th of last year. According to on-chain metrics services, the decline in the price of Bitcoin on cryptocurrency exchanges triggered the liquidation of buyer positions for more than 25 million dollars in just 2 hours.
This decline confirms the significance of the three black crows pattern (indicated by the arrow) and the principle of "buy the rumour, sell the fact" – as we discussed in the Bitcoin price analysis on January 15th.
What's next? Will the price continue to decrease?
JPM head Jamie Dimon, as well as legendary investor Peter Schiff, are pessimistic. In their opinion, Bitcoin is a speculative asset. Jamie Dimon explicitly advises staying away from bitcoins, while Peter Schiff, comparing Bitcoin to gold, prefers the precious metal.
On the other hand, the current decrease may indicate a correction within an upward trend. This perspective is held by financial expert and publicist Anthony Scaramucci.
Today's Bitcoin chart shows that:
→ BTC/USD has dropped not only below the psychological mark but also below the lower boundaries A and B of the channels, shown in blue and purple on the chart.
→ The RSI indicator points to oversold conditions.
If the market shows signs of recovery, then:
→ the nature of this recovery (comparing the speed, volumes, and progress achieved relative to the decline from the peaks on January 11th) will provide important information to determine the strength or weakness of demand in the market;
→ the important psychological level at 40,000 will be considered support, an attempt to break which has failed. So far, bears are aiming to establish themselves below $40k. If they succeed, the psychological level may pose resistance in the future.
As long as the price of Bitcoin is below 44,000 (approximately 50% from the January peak), we may consider that the initiative is on the bears' side.
FXOpen offers the world's most popular cryptocurrency CFDs*, including Bitcoin and Ethereum. Floating spreads, 1:2 leverage — at your service. Open your trading account now or learn more about crypto CFD trading with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
*At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients.
#stockmarket #NFLX #tradingforex
NFLX Price Sharply Rose on News of an Increase in the Number of Subscribers
The closing price of NFLX shares yesterday was 490.50, but during after-hours trading, NFLX experienced a sharp increase due to the release of the report. Today, in pre-market trading, NFLX is priced at over 530 dollars per share.
The main surprise contained in the report was the increase in the number of paid subscribers. Analysts expected +8.7 million, but the actual figure was +13 million. The growth in the subscriber base is attributed to:
→ the company offering a lower subscription rate that includes minor advertising inserts;
→ the improvement in the quality of content, including original series, sports broadcasts, games, and shows.
The chart shows that the NFLX share price is developing within an ascending trend (shown by the blue channel). Assuming that the market may open around 530 dollars, then:
→ a bullish gap will form on the chart, which may serve as a broad support zone;
→ the price will surpass the psychological level of 500 dollars per NFLX share. This level, previously demonstrating resistance properties, may now change its role to support – as was the case with the level at 445 dollars.
→ the RSI indicator will show market overbought conditions. A scenario with some correction (e.g., towards the median line of the channel) is not ruled out after the emotions from the company's success subside.
However, overall, the market looks strong, considering the backdrop of the decline in the NFLX price from its historical high of $700 in November 2021 to below $200 in May 2022. We may assume that Netflix has successfully restructured its business model, and if the subscriber base continues to grow at the same pace, the NFLX share price could reach $600 this year.
Buy or sell shares with CFDs in some of the world's biggest publicly listed companies on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NFLX Price Sharply Rose on News of an Increase in the Number of Subscribers
The closing price of NFLX shares yesterday was 490.50, but during after-hours trading, NFLX experienced a sharp increase due to the release of the report. Today, in pre-market trading, NFLX is priced at over 530 dollars per share.
The main surprise contained in the report was the increase in the number of paid subscribers. Analysts expected +8.7 million, but the actual figure was +13 million. The growth in the subscriber base is attributed to:
→ the company offering a lower subscription rate that includes minor advertising inserts;
→ the improvement in the quality of content, including original series, sports broadcasts, games, and shows.
The chart shows that the NFLX share price is developing within an ascending trend (shown by the blue channel). Assuming that the market may open around 530 dollars, then:
→ a bullish gap will form on the chart, which may serve as a broad support zone;
→ the price will surpass the psychological level of 500 dollars per NFLX share. This level, previously demonstrating resistance properties, may now change its role to support – as was the case with the level at 445 dollars.
→ the RSI indicator will show market overbought conditions. A scenario with some correction (e.g., towards the median line of the channel) is not ruled out after the emotions from the company's success subside.
However, overall, the market looks strong, considering the backdrop of the decline in the NFLX price from its historical high of $700 in November 2021 to below $200 in May 2022. We may assume that Netflix has successfully restructured its business model, and if the subscriber base continues to grow at the same pace, the NFLX share price could reach $600 this year.
Buy or sell shares with CFDs in some of the world's biggest publicly listed companies on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
#marketanalysis #tsla #stockmarket #stocks
The Share Price of TSLA Sharply Declined After the Release of the Report
Following the publication of Tesla's (ticker TSLA) financial results for the fourth quarter of 2023, the company's stock price dropped. The TSLA share price in pre-market trading today is around $195, compared to yesterday's closing price of over $207 (approximately -6%).
Reasons for disappointment:
→ Earnings per share fell short of expectations at $0.71, compared to the Wall Street consensus of $0.73 per share.
→ Quarterly revenue amounted to $25.167 billion, which also fell below the expected $25.640 billion.
→ Additionally, a decrease in profitability was reported, partly attributed to issues with the introduction of the Cybertruck.
→ Tesla also provided a cautious outlook for 2024, warning that the growth rate in car production volumes could be "significantly lower" than in 2023. This is primarily due to the focus on launching the next-generation vehicle at the Gigafactory in Texas.
In October 2023, analysing the TSLA stock chart, it was noted that the price broke below the ascending trend. How does the situation look today?
→ The TSLA price failed to return to the ascending trend (shown in blue) of 2023.
→ The price continues to evolve within the descending trend (shown in red), the contours of which were noticeable as early as October.
After the release of this news, a bearish gap is likely to form at today's opening, and one should be prepared for:
→ Breaking the psychological level of $200 per share – this level may switch its role from support (noticeable in the price action on October 30-31) to resistance.
→ The TSLA share price dropping to the lower half of the descending channel. The median line of this channel will act as resistance.
→ Bears attempting to extend their success to bring the price down to the lower boundary of the channel (around $180).
Investor issues with TSLA stock have been evident for some time, as the price has been noticeably weaker than stock indices reaching peaks in December 2023 - January 2024. If the fundamental backdrop continues to be negative, it is possible that the red descending channel will shape the trajectory of TSLA's price in the first half of 2024.
Buy or sell shares with CFDs in some of the world's biggest publicly listed companies on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.
The Share Price of TSLA Sharply Declined After the Release of the Report
Following the publication of Tesla's (ticker TSLA) financial results for the fourth quarter of 2023, the company's stock price dropped. The TSLA share price in pre-market trading today is around $195, compared to yesterday's closing price of over $207 (approximately -6%).
Reasons for disappointment:
→ Earnings per share fell short of expectations at $0.71, compared to the Wall Street consensus of $0.73 per share.
→ Quarterly revenue amounted to $25.167 billion, which also fell below the expected $25.640 billion.
→ Additionally, a decrease in profitability was reported, partly attributed to issues with the introduction of the Cybertruck.
→ Tesla also provided a cautious outlook for 2024, warning that the growth rate in car production volumes could be "significantly lower" than in 2023. This is primarily due to the focus on launching the next-generation vehicle at the Gigafactory in Texas.
In October 2023, analysing the TSLA stock chart, it was noted that the price broke below the ascending trend. How does the situation look today?
→ The TSLA price failed to return to the ascending trend (shown in blue) of 2023.
→ The price continues to evolve within the descending trend (shown in red), the contours of which were noticeable as early as October.
After the release of this news, a bearish gap is likely to form at today's opening, and one should be prepared for:
→ Breaking the psychological level of $200 per share – this level may switch its role from support (noticeable in the price action on October 30-31) to resistance.
→ The TSLA share price dropping to the lower half of the descending channel. The median line of this channel will act as resistance.
→ Bears attempting to extend their success to bring the price down to the lower boundary of the channel (around $180).
Investor issues with TSLA stock have been evident for some time, as the price has been noticeably weaker than stock indices reaching peaks in December 2023 - January 2024. If the fundamental backdrop continues to be negative, it is possible that the red descending channel will shape the trajectory of TSLA's price in the first half of 2024.
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#marketanalysis #XAUUSD #goldprice
The Price of Gold (XAU/USD) Has Descended to a Significant Support Level
The beginning of 2024 has not been the most positive for gold investors, despite a promising December 2023 when XAU/USD prices reached a historical high of $2135.39 per ounce, primarily due to a weak US dollar and expectations that the Federal Reserve (Fed) would begin lowering interest rates.
However, from the first trading day of January, the price of gold (XAU/USD) has fallen from around $2061 to current levels of around $2015 per ounce (a decrease of 2.3%). This is somewhat surprising considering that gold has a reputation as a defensive asset, and geopolitical tensions persist. Perhaps the price is undergoing a correction after reaching a historical high, pulling back from overbought conditions (evident from the RSI indicator).
The XAU/USD gold chart indicates that:
→ the price has descended to the psychological level of $2000 per ounce, which already showed support on January 17th;
→ the price is also near an important trendline (indicated by the thickened blue line), from which support can be expected;
→ the price is forming a consolidation pattern between the thickened red and blue lines.
What's next?
JPMorgan analysts believe that in 2024, the price of gold (XAU/USD) will reach $2300 as the US GDP growth slows down and the Fed reduces interest rates. However, they suggest that this is likely to happen in the second half of the year, and in the first half, a decline is more probable, increasing the likelihood of a bearish breakout from the current consolidation pattern.
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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
The Price of Gold (XAU/USD) Has Descended to a Significant Support Level
The beginning of 2024 has not been the most positive for gold investors, despite a promising December 2023 when XAU/USD prices reached a historical high of $2135.39 per ounce, primarily due to a weak US dollar and expectations that the Federal Reserve (Fed) would begin lowering interest rates.
However, from the first trading day of January, the price of gold (XAU/USD) has fallen from around $2061 to current levels of around $2015 per ounce (a decrease of 2.3%). This is somewhat surprising considering that gold has a reputation as a defensive asset, and geopolitical tensions persist. Perhaps the price is undergoing a correction after reaching a historical high, pulling back from overbought conditions (evident from the RSI indicator).
The XAU/USD gold chart indicates that:
→ the price has descended to the psychological level of $2000 per ounce, which already showed support on January 17th;
→ the price is also near an important trendline (indicated by the thickened blue line), from which support can be expected;
→ the price is forming a consolidation pattern between the thickened red and blue lines.
What's next?
JPMorgan analysts believe that in 2024, the price of gold (XAU/USD) will reach $2300 as the US GDP growth slows down and the Fed reduces interest rates. However, they suggest that this is likely to happen in the second half of the year, and in the first half, a decline is more probable, increasing the likelihood of a bearish breakout from the current consolidation pattern.
Start trading commodities with tight spreads. Open your trading account now or learn more about trading commodity CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
#stockmarket #stocks #MarketNews #IBM
IBM Share Price Soars Nearly 10%
As the chart shows, the closing price on January 24 = USD 173.79, closing price on January 25 = USD 190.19. At yesterday's peak, IBM's share price was above USD 196, helped by a strong fourth-quarter earnings report that was positive about the company's prospects due to advances in AI.
→ Total revenue was USD 17.381 billion, compared to USD 16.690 billion in the prior-year quarter.
→ The acquisition of Red Hat made IBM the fifth-largest cloud service provider by market share. This is very important given the industry's projected growth rate of 16% per year until 2028.
→ Advances in quantum computing, exemplified by the release of the 127-qubit Eagle quantum chip.
In addition, the company has increased dividends for 28 years in a row, making IBM shares attractive to a wide range of investors.
Technical analysis of the IBM stock price chart shows that:
→ the price has reached the upper border of the parallel channel (shown in blue);
→ the RSI indicator indicates strong overbought;
→ a long upper shadow formed on yesterday’s candle – a sign of sales activity. It is acceptable to assume that some investors rushed to take profits in order to later find an opportunity to re-enter a long position at lower prices.
Indeed, given the chart situation, IBM's share price is vulnerable to a pullback following the extremely positive report. If a pullback occurs, the price may find support in the area between the psychological levels of USD 175 and USD 180 per share of IBM, where the 50% Fibonacci level of the upward impulse A→B passes. The channel median line can also help the bulls.
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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
IBM Share Price Soars Nearly 10%
As the chart shows, the closing price on January 24 = USD 173.79, closing price on January 25 = USD 190.19. At yesterday's peak, IBM's share price was above USD 196, helped by a strong fourth-quarter earnings report that was positive about the company's prospects due to advances in AI.
→ Total revenue was USD 17.381 billion, compared to USD 16.690 billion in the prior-year quarter.
→ The acquisition of Red Hat made IBM the fifth-largest cloud service provider by market share. This is very important given the industry's projected growth rate of 16% per year until 2028.
→ Advances in quantum computing, exemplified by the release of the 127-qubit Eagle quantum chip.
In addition, the company has increased dividends for 28 years in a row, making IBM shares attractive to a wide range of investors.
Technical analysis of the IBM stock price chart shows that:
→ the price has reached the upper border of the parallel channel (shown in blue);
→ the RSI indicator indicates strong overbought;
→ a long upper shadow formed on yesterday’s candle – a sign of sales activity. It is acceptable to assume that some investors rushed to take profits in order to later find an opportunity to re-enter a long position at lower prices.
Indeed, given the chart situation, IBM's share price is vulnerable to a pullback following the extremely positive report. If a pullback occurs, the price may find support in the area between the psychological levels of USD 175 and USD 180 per share of IBM, where the 50% Fibonacci level of the upward impulse A→B passes. The channel median line can also help the bulls.
Buy or sell shares with CFDs in some of the world's biggest publicly listed companies on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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#marketanalysis #MarketNews #oilprices
Against the Background of Geopolitical Tension, the price of Brent Oil Has Reached an Important Resistance Zone
The reasons for the rise in Brent oil prices are a drone attack on an American military base in Jordan, as well as an attack on an oil tanker in the Red Sea. These events cause concerns about the safety of oil transportation through the Red Sea and the potential escalation of the conflict in the Middle East. Bloomberg writes that President Biden is under pressure, and the response can be decisive.
The Brent crude oil chart today shows that:
→ The price strengthened higher than the zone of consolidation (shown by narrowing black lines), having completed its bullish break at the psychological level of 80 US dollars per barrel.
→ The price forms an ascending channel (shown in blue).
→ The price rose to the USD 83.00-85.00 zone, which previously served as a support area, but changed its role in November.
→ The market is overbought, judging by the readings of the RSI indicator.
If the geopolitical tension increases, then the bulls can try to raise the price of Brent oil through the specified zone - it is possible that it will reach the upper border of the channel.
On the other hand, if the fundamental background indicates a decrease in the degree of threats in the Middle East, the price can form a pullback from the resistance zone so that the RSI drops closer to values around 50.
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CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Against the Background of Geopolitical Tension, the price of Brent Oil Has Reached an Important Resistance Zone
The reasons for the rise in Brent oil prices are a drone attack on an American military base in Jordan, as well as an attack on an oil tanker in the Red Sea. These events cause concerns about the safety of oil transportation through the Red Sea and the potential escalation of the conflict in the Middle East. Bloomberg writes that President Biden is under pressure, and the response can be decisive.
The Brent crude oil chart today shows that:
→ The price strengthened higher than the zone of consolidation (shown by narrowing black lines), having completed its bullish break at the psychological level of 80 US dollars per barrel.
→ The price forms an ascending channel (shown in blue).
→ The price rose to the USD 83.00-85.00 zone, which previously served as a support area, but changed its role in November.
→ The market is overbought, judging by the readings of the RSI indicator.
If the geopolitical tension increases, then the bulls can try to raise the price of Brent oil through the specified zone - it is possible that it will reach the upper border of the channel.
On the other hand, if the fundamental background indicates a decrease in the degree of threats in the Middle East, the price can form a pullback from the resistance zone so that the RSI drops closer to values around 50.
Start trading commodity CFDs with tight spreads. Open your trading account now or learn more about trading commodity CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
#stockmarket #marketanalysis #stocks
The Hang Seng Index is Near Important Support
The economy of China is hit by the decision to liquidate the developer Evergrande due to a debt of USD 300 billion. Bloomberg writes that this will have huge consequences for all of China.
While the S&P 500 index rose by more than 3% since the beginning of January, the Hang Seng index fell by more than 8%. JPMorgan and HSBC point to local government debt, non-performing bank loans and negative sentiment in the private sector.
The weekly chart of the stock index Hang Seng (HSI) shows that:
→ The price is in a downward trend, which is shown by the black line.
→ The price dropped close to the 2022 minimum.
→ The RSI indicator is located near the oversold zone.
What is important: the price is near the lower border of the long-term channel (shown by orange lines), from which support can be expected.
Expectations of investors to lower the interest rate from the Fed may increase the appetite for risky assets, which features Chinese stocks.
As Reuters writes, Goldman Sachs noted in its note to clients that hedge funds are actively buying Chinese shares - for the period from January 23 to 25, there was the largest capital inflow in the last 5 years. Perhaps the managers of hedge funds believe that the plans of the Chinese authorities to stimulate the economy for more than $280 billion will become a reality, and the price of the Hang Seng index will make a jump from the lower border of the long-term channel, breaking the black line of the downward trend.
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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
The Hang Seng Index is Near Important Support
The economy of China is hit by the decision to liquidate the developer Evergrande due to a debt of USD 300 billion. Bloomberg writes that this will have huge consequences for all of China.
While the S&P 500 index rose by more than 3% since the beginning of January, the Hang Seng index fell by more than 8%. JPMorgan and HSBC point to local government debt, non-performing bank loans and negative sentiment in the private sector.
The weekly chart of the stock index Hang Seng (HSI) shows that:
→ The price is in a downward trend, which is shown by the black line.
→ The price dropped close to the 2022 minimum.
→ The RSI indicator is located near the oversold zone.
What is important: the price is near the lower border of the long-term channel (shown by orange lines), from which support can be expected.
Expectations of investors to lower the interest rate from the Fed may increase the appetite for risky assets, which features Chinese stocks.
As Reuters writes, Goldman Sachs noted in its note to clients that hedge funds are actively buying Chinese shares - for the period from January 23 to 25, there was the largest capital inflow in the last 5 years. Perhaps the managers of hedge funds believe that the plans of the Chinese authorities to stimulate the economy for more than $280 billion will become a reality, and the price of the Hang Seng index will make a jump from the lower border of the long-term channel, breaking the black line of the downward trend.
Trade global index CFDs with zero commission and tight spreads. Open your FXOpen account now or learn more about trading index CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
#stockmarket #NASDAQ #MarketNews
NASDAQ Falls by 1.5% after Tech Giants Reports
NASDAQ E-Mini futures fell 1.5% in early trading after the publication of quarterly earnings reports from technology giants Google (GOOG), Microsoft (MSFT) and Advanced Micro Devices (AMD):
→ The parent company of Google, Alphabet Inc., reported revenue of 86.3 billion dollars (forecast = 85.2), however, the slowdown in advertising revenue – the most important article in the company's revenue – caused the price of GOOG shares to drop by 2.7% after publication report
→ Microsoft's revenue amounted to 62.0 billion US dollars, increasing by 10% (forecast = 61.2%). Despite the high performance of the cloud segment Azure, the price of Microsoft shares decreased by 3.2% after the publication. Perhaps the MSFT stock market is overbought due to the extreme optimism associated with AI implementation.
→ AMD, the leading semiconductor manufacturing company, also exceeded expectations. Its income was 6.16 billion US dollars (forecast = 6.12). However, the company made a cautious forecast for the next quarter. The price of AMD shares fell by 4.5%.
The cumulative effect of these messages strongly influenced the price of the NASDAQ E-Mini index. Perhaps the market is “letting off steam” after the impressive growth that began in 2023. MarketWatch conveys the opinions of JPMorgan analysts — they believe that today's stock market, which is dominated by large technology companies, has signs of a dotcom bubble.
The NASDAQ 100 chart shows that:
→ price forms a bear pattern head-and-shoulders;
→ the price is located near the support block, which forms the median line of the ascending channel (shown in blue) and the support level is 17333.
If bearish sentiments intensify at the opening of the main trading session, the bears can break through the specified support block and direct the price to the block that forms the psychological level of 17,000 and the lower border of the channel.
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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ Falls by 1.5% after Tech Giants Reports
NASDAQ E-Mini futures fell 1.5% in early trading after the publication of quarterly earnings reports from technology giants Google (GOOG), Microsoft (MSFT) and Advanced Micro Devices (AMD):
→ The parent company of Google, Alphabet Inc., reported revenue of 86.3 billion dollars (forecast = 85.2), however, the slowdown in advertising revenue – the most important article in the company's revenue – caused the price of GOOG shares to drop by 2.7% after publication report
→ Microsoft's revenue amounted to 62.0 billion US dollars, increasing by 10% (forecast = 61.2%). Despite the high performance of the cloud segment Azure, the price of Microsoft shares decreased by 3.2% after the publication. Perhaps the MSFT stock market is overbought due to the extreme optimism associated with AI implementation.
→ AMD, the leading semiconductor manufacturing company, also exceeded expectations. Its income was 6.16 billion US dollars (forecast = 6.12). However, the company made a cautious forecast for the next quarter. The price of AMD shares fell by 4.5%.
The cumulative effect of these messages strongly influenced the price of the NASDAQ E-Mini index. Perhaps the market is “letting off steam” after the impressive growth that began in 2023. MarketWatch conveys the opinions of JPMorgan analysts — they believe that today's stock market, which is dominated by large technology companies, has signs of a dotcom bubble.
The NASDAQ 100 chart shows that:
→ price forms a bear pattern head-and-shoulders;
→ the price is located near the support block, which forms the median line of the ascending channel (shown in blue) and the support level is 17333.
If bearish sentiments intensify at the opening of the main trading session, the bears can break through the specified support block and direct the price to the block that forms the psychological level of 17,000 and the lower border of the channel.
Buy and sell stocks of the world's biggest publicly-listed companies with CFDs on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
#marketanalysis #MarketNews #forextrading
News from the Fed Push Down EUR/USD Price to a Year Low
Financial markets were buoyant last night due to news from the Fed. Interest rates remained unchanged — as expected. However, somewhat unexpected was the harsh rhetoric of Jerome Powell, who said that:
→ interest rate reduction in March is unlikely;
→ the Fed needs to see more data to be confident in the rate change.
This cooled financial market expectations for a rate cut in March, which in turn led to a strengthening of the US dollar relative to other currencies and a decline in stock indices, with risk assets falling especially sharply.
The strengthening of the US dollar caused the EUR/USD rate to drop below 1.079 today for the first time since mid-December last year.
The EUR/USD chart today shows that the price is falling towards the lower border of the ascending channel (shown in blue), and the market is very sensitive to psychological levels:
→ the level of 1.100 (which we paid attention to in the analysis on November 29 and December 15) in January acted as an important resistance twice, preventing the price from rising.
→ Level 1.075, from which reversals were formed, may provide support. Bulls can also pin their hopes on it, since the lower boundary of the ascending channel passes near the level of 1.075.
→ The 1.050 level seems unattainable - but who knows, if the Fed continues to keep rates high “for as long as necessary,” this could lead to a breakdown of the ascending channel, opening the way to support 1.05.
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CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
News from the Fed Push Down EUR/USD Price to a Year Low
Financial markets were buoyant last night due to news from the Fed. Interest rates remained unchanged — as expected. However, somewhat unexpected was the harsh rhetoric of Jerome Powell, who said that:
→ interest rate reduction in March is unlikely;
→ the Fed needs to see more data to be confident in the rate change.
This cooled financial market expectations for a rate cut in March, which in turn led to a strengthening of the US dollar relative to other currencies and a decline in stock indices, with risk assets falling especially sharply.
The strengthening of the US dollar caused the EUR/USD rate to drop below 1.079 today for the first time since mid-December last year.
The EUR/USD chart today shows that the price is falling towards the lower border of the ascending channel (shown in blue), and the market is very sensitive to psychological levels:
→ the level of 1.100 (which we paid attention to in the analysis on November 29 and December 15) in January acted as an important resistance twice, preventing the price from rising.
→ Level 1.075, from which reversals were formed, may provide support. Bulls can also pin their hopes on it, since the lower boundary of the ascending channel passes near the level of 1.075.
→ The 1.050 level seems unattainable - but who knows, if the Fed continues to keep rates high “for as long as necessary,” this could lead to a breakdown of the ascending channel, opening the way to support 1.05.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
#marketanalysis #MarketNews #gasprices
Natural Gas Prices Recover from 3.5-year Lows
As the chart shows, the price of XNG fell below 2.040 on January 31 for the first time since August 2020. This was facilitated by:
→ seasonal trend, because towards the end of winter the price of natural gas tends to fall;
→ weather data. Temperatures could remain above average and snowfall amounts will decrease across North America, according to the U.S. Climate Prediction Center and AccuWeather.
However, the chart shows signs of increased demand:
→ the RSI indicator forms divergence;
→ the bears were unable to reach the lower boundary (shown on the chart) of the downward channel.
Signs of increased demand could come from short covering after the XNG price fell by more than 25% this year, as well as sentiment ahead of the release of news on gas reserves (today at 18:30 GMT+3).
It is possible that the news release will provoke even greater demand activity, and the XNG price will reach the median line of the shown channel.
Start trading commodity CFDs with tight spreads. Open your trading account now or learn more about trading commodity CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Natural Gas Prices Recover from 3.5-year Lows
As the chart shows, the price of XNG fell below 2.040 on January 31 for the first time since August 2020. This was facilitated by:
→ seasonal trend, because towards the end of winter the price of natural gas tends to fall;
→ weather data. Temperatures could remain above average and snowfall amounts will decrease across North America, according to the U.S. Climate Prediction Center and AccuWeather.
However, the chart shows signs of increased demand:
→ the RSI indicator forms divergence;
→ the bears were unable to reach the lower boundary (shown on the chart) of the downward channel.
Signs of increased demand could come from short covering after the XNG price fell by more than 25% this year, as well as sentiment ahead of the release of news on gas reserves (today at 18:30 GMT+3).
It is possible that the news release will provoke even greater demand activity, and the XNG price will reach the median line of the shown channel.
Start trading commodity CFDs with tight spreads. Open your trading account now or learn more about trading commodity CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
#AAPL #stockmarket #marketanalysis
AAPL Share Price Falls 3% After Report
After the close of yesterday's trading session, the once first-largest company by capitalization, Apple, reported on its activities for the 4th quarter of 2023. The actual numbers exceeded expectations:
→ revenue: actual = USD 119.5 billion (expected = USD 117.9 billion);
→ earnings per share: actual = USD 2.3 (expected = USD 1.99).
It would seem that things were going well, but this was due to the holiday period and the traditional seasonal increase in purchases of Apple products. In the future, analysts can expect a decrease in revenue, as was the case in 2023.
Confirming this possibility, Apple gave weak guidance for the next quarter given the decline in demand in China.
As a result, in post-market trading, AAPL's share price fell approximately 3% to the support level (shown by the black line) drawn near this year's lows.
The AAPL stock chart today shows that:
→ level A looks like an important resistance: the price cannot overcome it in order to move up along with the index;
→ a new threat of a bearish breakdown of the lower blue trend line has emerged - if it happens, the bears may try to test the important low of autumn 2023 (level B).
While the picture looks flat, given that AAPL's share price has been in an A-B range since the middle of last year, the situation could be potentially bearish given that the price cannot rise in a bull market.
Investors' hopes may be associated with the presentation of the Vision Pro headset, as well as with achievements related to the introduction of AI. As Tim Cook said, the company has “a lot of internal work going on,” but Apple is not revealing details yet so as not to “come to the forefront.”
Buy and sell stocks of the world's biggest publicly-listed companies with CFDs on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.
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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
AAPL Share Price Falls 3% After Report
After the close of yesterday's trading session, the once first-largest company by capitalization, Apple, reported on its activities for the 4th quarter of 2023. The actual numbers exceeded expectations:
→ revenue: actual = USD 119.5 billion (expected = USD 117.9 billion);
→ earnings per share: actual = USD 2.3 (expected = USD 1.99).
It would seem that things were going well, but this was due to the holiday period and the traditional seasonal increase in purchases of Apple products. In the future, analysts can expect a decrease in revenue, as was the case in 2023.
Confirming this possibility, Apple gave weak guidance for the next quarter given the decline in demand in China.
As a result, in post-market trading, AAPL's share price fell approximately 3% to the support level (shown by the black line) drawn near this year's lows.
The AAPL stock chart today shows that:
→ level A looks like an important resistance: the price cannot overcome it in order to move up along with the index;
→ a new threat of a bearish breakdown of the lower blue trend line has emerged - if it happens, the bears may try to test the important low of autumn 2023 (level B).
While the picture looks flat, given that AAPL's share price has been in an A-B range since the middle of last year, the situation could be potentially bearish given that the price cannot rise in a bull market.
Investors' hopes may be associated with the presentation of the Vision Pro headset, as well as with achievements related to the introduction of AI. As Tim Cook said, the company has “a lot of internal work going on,” but Apple is not revealing details yet so as not to “come to the forefront.”
Buy and sell stocks of the world's biggest publicly-listed companies with CFDs on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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#AAPL #stockmarket #NASDAQ #XAUUSD #goldprice
Weekly Market Wrap With Gary Thomson: NASDAQ, EUR/USD, GOLD, OIL, APPLE
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
🔸 NASDAQ Falls by 1.5% after Tech Giants Reports
🔸 News from the Fed Push Down EUR/USD Price to a Year Low
🔸 Gold Price and Crude Oil Price Eye Additional Gains
🔸 Apple Stock Rises Strongly As December Earnings Looms
Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen. Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.
https://cutt.ly/OwXakHkp
To take advantage of price fluctuations in the foreign exchange markets, consider enlisting the services of a reliable broker like FXOpen.
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This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice
Weekly Market Wrap With Gary Thomson: NASDAQ, EUR/USD, GOLD, OIL, APPLE
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
🔸 NASDAQ Falls by 1.5% after Tech Giants Reports
🔸 News from the Fed Push Down EUR/USD Price to a Year Low
🔸 Gold Price and Crude Oil Price Eye Additional Gains
🔸 Apple Stock Rises Strongly As December Earnings Looms
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Weekly Market Wrap With Gary Thomson: NASDAQ, EUR/USD, GOLD, OIL, APPLE
Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.
00:34 - NASDAQ Falls by 1.5% after Tech Giants…
00:34 - NASDAQ Falls by 1.5% after Tech Giants…
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#stockmarket #AMZN #MarketNews
AMZN Share Price Rises Nearly 8% after Report
After Thursday's close, another corporate giant reported fourth-quarter 2023 activity.
Amazon's actual numbers exceeded analysts' expectations. And while actual revenue (= USD 169.96 billion) was close to forecasts (expected = USD 169.92 billion), the reported earnings per share were a surprise (actual = USD 1.00, expected = USD 0.795).
Bloomberg names the reasons for success during the reporting period:
→ cost-cutting policy, which is persistently pursued by CEO Andy Jassy;
→ focus on services that bring in money. For example, advertising revenues have grown for the 4th consecutive period;
→ sales of cloud services grew by 13%, easing concerns about slowing demand;
→ strong sales growth during the holiday season.
The company also issued optimistic guidance for the coming quarter, with the expectation that corporate customers will increase spending in its cloud computing division.
As a result, AMZN's share price closed at USD 171.58 on Friday, up nearly 8% from Thursday's close.
The daily chart for AMZN stock today shows that:
→ the price moves within the ascending channel (shown in blue);
→ the price came close to its upper limit;
→ the RSI indicator indicates that the market is significantly overbought;
→ the price formed a bullish gap above the level of USD 160 per share.
Taking into account the above, it is possible to assume that the AMZN share price is in a vulnerable position for a rollback from the upper boundary of the ascending channel, when the optimistic impressions from the publication of the report subside — in this case, the formation of divergence on the RSI indicator and a decline into the bullish gap area is possible.
Also note that AMZN is approaching USD 180 per share. This is the level at which Jeff Bezos sold his shares aggressively in 2021, followed by a market downturn. At the same time, according to annual corporate reporting, Bezos intends to sell about 50 million shares this year. So the $180 level could be an important resistance for 2024.
To take advantage of price fluctuations in the foreign exchange markets, consider enlisting the services of a reliable broker like FXOpen.
Buy and sell stocks of the world's biggest publicly-listed companies with CFDs on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
AMZN Share Price Rises Nearly 8% after Report
After Thursday's close, another corporate giant reported fourth-quarter 2023 activity.
Amazon's actual numbers exceeded analysts' expectations. And while actual revenue (= USD 169.96 billion) was close to forecasts (expected = USD 169.92 billion), the reported earnings per share were a surprise (actual = USD 1.00, expected = USD 0.795).
Bloomberg names the reasons for success during the reporting period:
→ cost-cutting policy, which is persistently pursued by CEO Andy Jassy;
→ focus on services that bring in money. For example, advertising revenues have grown for the 4th consecutive period;
→ sales of cloud services grew by 13%, easing concerns about slowing demand;
→ strong sales growth during the holiday season.
The company also issued optimistic guidance for the coming quarter, with the expectation that corporate customers will increase spending in its cloud computing division.
As a result, AMZN's share price closed at USD 171.58 on Friday, up nearly 8% from Thursday's close.
The daily chart for AMZN stock today shows that:
→ the price moves within the ascending channel (shown in blue);
→ the price came close to its upper limit;
→ the RSI indicator indicates that the market is significantly overbought;
→ the price formed a bullish gap above the level of USD 160 per share.
Taking into account the above, it is possible to assume that the AMZN share price is in a vulnerable position for a rollback from the upper boundary of the ascending channel, when the optimistic impressions from the publication of the report subside — in this case, the formation of divergence on the RSI indicator and a decline into the bullish gap area is possible.
Also note that AMZN is approaching USD 180 per share. This is the level at which Jeff Bezos sold his shares aggressively in 2021, followed by a market downturn. At the same time, according to annual corporate reporting, Bezos intends to sell about 50 million shares this year. So the $180 level could be an important resistance for 2024.
To take advantage of price fluctuations in the foreign exchange markets, consider enlisting the services of a reliable broker like FXOpen.
Buy and sell stocks of the world's biggest publicly-listed companies with CFDs on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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#marketanalysis #MarketNews #tradingforex
AUD/USD Rate Rises after RBA Decision
This morning the Central Bank of Australia decided to keep the interest rate at the same level = 4.35%, as expected.
However, RBA management said that further rate hikes cannot be ruled out as inflation is still too high. This is a clear signal that policy easing is unlikely in the near future.
AUD/USD has rallied from its 2024 low following this relatively hawkish rhetoric.
The daily AUD/USD chart today shows that if the bullish momentum does not fade, then based on the results of today's trading the following may form:
→ bullish engulfing candlestick pattern;
→ bullish divergence.
At the same time, the price is near the important level of 0.6510, which since mid-2023 has repeatedly shown its influence on the AUD/USD price both as support and resistance (shown by arrows).
The ability of the AUD/USD price to consolidate above this key level will indicate the strength of demand, with:
→ a false bearish breakdown of the level of 0.651 may form on the chart;
→ it is possible that the bulls will try to build on their success and return the AUD/USD price to the area of the ascending channel (shown in blue), which dates back to last fall.
From the point of view of technical analysis of AUD/USD, the likelihood of a bullish scenario is increased by the fact that point C (the current low of the year) is located in the area of the 0.382 Fibonacci level of the impulse movement A→B.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
AUD/USD Rate Rises after RBA Decision
This morning the Central Bank of Australia decided to keep the interest rate at the same level = 4.35%, as expected.
However, RBA management said that further rate hikes cannot be ruled out as inflation is still too high. This is a clear signal that policy easing is unlikely in the near future.
AUD/USD has rallied from its 2024 low following this relatively hawkish rhetoric.
The daily AUD/USD chart today shows that if the bullish momentum does not fade, then based on the results of today's trading the following may form:
→ bullish engulfing candlestick pattern;
→ bullish divergence.
At the same time, the price is near the important level of 0.6510, which since mid-2023 has repeatedly shown its influence on the AUD/USD price both as support and resistance (shown by arrows).
The ability of the AUD/USD price to consolidate above this key level will indicate the strength of demand, with:
→ a false bearish breakdown of the level of 0.651 may form on the chart;
→ it is possible that the bulls will try to build on their success and return the AUD/USD price to the area of the ascending channel (shown in blue), which dates back to last fall.
From the point of view of technical analysis of AUD/USD, the likelihood of a bullish scenario is increased by the fact that point C (the current low of the year) is located in the area of the 0.382 Fibonacci level of the impulse movement A→B.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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#marketanalysis #MarketNews
A Major Network Outage in Solana Had Little Impact on the SOL/USD Exchange Rate
Solana, one of the fastest-growing blockchain networks, experienced significant outages yesterday, starting around 13:00 GMT+3. As a result of the outage, users and developers were unable to process transactions and interact with applications.
Solana engineers quickly released a patch required for the restart. And about four hours later, the network came back online, as validators, collectively controlling 80% of SOL staking, updated to the new version.
This is not the first time the Solana network has experienced downtime. Crypto media have reported at least 11 outages in the past two years, including minor incidents.
According to SolanaCompass.com, the main Solana network has been in "beta mode" (error detection mode) since March 2020 and is still operating as such. Approximately 1.7 billion dollars' worth of capital is locked in the project's network, and SOL, its native token, ranks as the fifth-largest cryptocurrency with a market capitalization of nearly 42 billion dollars.
In 2023, the SOL/USD rate rose by a staggering +960%, and fortunately for investors, yesterday's outage had little impact on the price of the Solana token (and other crypto assets).
Meanwhile, today's SOL/USD chart shows an interesting picture – the price seems to have temporarily stalled before choosing a direction in which to move:
→ On the one hand, the SOL/USD price is within the bounds of an ascending uptrend (shown in blue), which began in 2023;
→ On the other hand, the chart outlines a descending channel (shown in red).
Meanwhile, the Bollinger Bands width indicator is at minimal values, as if hinting that the SOL/USD price exiting the triangle forming on the chart (shown in black lines) may be associated with increased volatility and the formation of a new important swing.
FXOpen offers the world's most popular cryptocurrency CFDs*, including Bitcoin and Ethereum. Floating spreads, 1:2 leverage — at your service. Open your trading account now or learn more about crypto CFD trading with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
*At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules respectively. They are not available for trading by Retail clients.
A Major Network Outage in Solana Had Little Impact on the SOL/USD Exchange Rate
Solana, one of the fastest-growing blockchain networks, experienced significant outages yesterday, starting around 13:00 GMT+3. As a result of the outage, users and developers were unable to process transactions and interact with applications.
Solana engineers quickly released a patch required for the restart. And about four hours later, the network came back online, as validators, collectively controlling 80% of SOL staking, updated to the new version.
This is not the first time the Solana network has experienced downtime. Crypto media have reported at least 11 outages in the past two years, including minor incidents.
According to SolanaCompass.com, the main Solana network has been in "beta mode" (error detection mode) since March 2020 and is still operating as such. Approximately 1.7 billion dollars' worth of capital is locked in the project's network, and SOL, its native token, ranks as the fifth-largest cryptocurrency with a market capitalization of nearly 42 billion dollars.
In 2023, the SOL/USD rate rose by a staggering +960%, and fortunately for investors, yesterday's outage had little impact on the price of the Solana token (and other crypto assets).
Meanwhile, today's SOL/USD chart shows an interesting picture – the price seems to have temporarily stalled before choosing a direction in which to move:
→ On the one hand, the SOL/USD price is within the bounds of an ascending uptrend (shown in blue), which began in 2023;
→ On the other hand, the chart outlines a descending channel (shown in red).
Meanwhile, the Bollinger Bands width indicator is at minimal values, as if hinting that the SOL/USD price exiting the triangle forming on the chart (shown in black lines) may be associated with increased volatility and the formation of a new important swing.
FXOpen offers the world's most popular cryptocurrency CFDs*, including Bitcoin and Ethereum. Floating spreads, 1:2 leverage — at your service. Open your trading account now or learn more about crypto CFD trading with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
*At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules respectively. They are not available for trading by Retail clients.
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#MarketNews #tradingforex #marketanalysis
NZD/USD Rate Recovering from Its Low of the Year amid News from Labour Market
Yesterday's news showed that New Zealand's labour market is stronger and more resilient than expected.
In the fourth quarter of 2023, employment grew by 0.4% in the fourth quarter (forecast = +0.3%, quarter earlier = -0.1%). The unemployment rate is 4%, forecast = 4.3%.
A strong labour market indicates a margin of safety in the economy. And that may suggest that the Reserve Bank of New Zealand's tight monetary policy to quell inflation may continue longer.
The news helped the NZD strengthen against other currencies. Moreover, an interesting situation develops on the NZD/USD chart:
→ based on the results of yesterday, the price recovered and strengthened above the low C, which today is the minimum of 2024.
→ Moreover, level C is in the region of 50% of the rollback from the impulse movement A→B.
→ At the same time, the chart shows signs of a failed bearish breakout of the level of 0.6050, which previously served as resistance.
Considering the above arguments, there is reason to believe that the bulls may try to resume the uptrend (shown by the blue channel) after the price of NZD/USD has fallen below its border (for now - not for long). The trigger for a new surge in volatility could be news about the state of the labour market in the US, data is expected today at 16:30 GMT+3.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NZD/USD Rate Recovering from Its Low of the Year amid News from Labour Market
Yesterday's news showed that New Zealand's labour market is stronger and more resilient than expected.
In the fourth quarter of 2023, employment grew by 0.4% in the fourth quarter (forecast = +0.3%, quarter earlier = -0.1%). The unemployment rate is 4%, forecast = 4.3%.
A strong labour market indicates a margin of safety in the economy. And that may suggest that the Reserve Bank of New Zealand's tight monetary policy to quell inflation may continue longer.
The news helped the NZD strengthen against other currencies. Moreover, an interesting situation develops on the NZD/USD chart:
→ based on the results of yesterday, the price recovered and strengthened above the low C, which today is the minimum of 2024.
→ Moreover, level C is in the region of 50% of the rollback from the impulse movement A→B.
→ At the same time, the chart shows signs of a failed bearish breakout of the level of 0.6050, which previously served as resistance.
Considering the above arguments, there is reason to believe that the bulls may try to resume the uptrend (shown by the blue channel) after the price of NZD/USD has fallen below its border (for now - not for long). The trigger for a new surge in volatility could be news about the state of the labour market in the US, data is expected today at 16:30 GMT+3.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen.
CFDs are complex instruments and come with a high risk of losing your money.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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