Market Sentiment for October 22, 2026

⚠️ UK — BOE Governor Andrew Bailey Speaks at 10:50 GMT

▶️ Crude Oil. Triangle?

Today is Thursday, October 22, and let’s talk about the oil market and what’s happening there.

I think you can see that the most interesting thing here is a probable triangle forming within wave X. The exact wave labeling isn’t especially important here; what matters is the triangle itself. This is a continuation pattern, which means that after the triangle...

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🇺🇸 Pre-market trading trends on the US stock market

📉 The US stock market is showing a predominantly negative trend in pre-market trading: most of the largest issuers by market capitalisation are trading lower, indicating prevailing risk aversion.

In the Information Technology sector, NVIDIA (NVDA) is down 2.25%, while Advanced Micro Devices (AMD) is down 4.41%.

In the Financials sector, Berkshire Hathaway (BRK.B) is up 0.61%, while JPMorgan Chase (JPM) is down 0.58%.

In the Energy sector, Exxon Mobil (XOM) is up 0.96%, while Chevron (CVX) is up 0.89%.

The overall picture points to selling pressure dominating the tech giants segment, with localised support in the energy and parts of the financial sectors, reflecting a risk-off sentiment within the US market.

In the foreign exchange market, this shift toward safe-haven assets is driving demand for the dollar and US Treasuries, contributing to a short-term strengthening of the US currency.

The crypto market has quickly wiped out its gains

The crypto market capitalisation has fallen by 2% over the past 24 hours to $2.74T. Selling pressure intensified after the market reached a 10-day high, pushing it back into its previous trading range. The pressure from sellers is raising questions about the nearest support levels. A fall below $2.7T would signal a breakout from the consolidation phase and could trigger an avalanche of stop-loss orders, exacerbating the decline. This would be an unexpected turn of events, given the positive seasonal trends and the market optimism that has built up over recent months.

On Wednesday, Bitcoin soared above $84.5K to a two-week high on the back of positive stock market momentum, but failed to sustain the rally and, by midday on Thursday, had erased Tuesday and Wednesday’s gains, retreating to $81.7K. This return to the 50-day moving average means the bulls cannot celebrate a quick victory. The price was unable to break away from this curve mid-year, spending about 40 days in a narrow range. The sell-off has been triggered by external factors, so the situation's further development may also be dictated by external events. It is interesting to note how synchronised the decline in gold and Bitcoin was on Thursday.

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Pound benefits from a hawkish BoE

Markets are anticipating aggressive rate hikes by the Bank of England.

The stable political situation is playing into the hands of the bulls on GBPUSD.

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⚠️ Japan — National Consumer Price Index at 23:30 GMT

✔️ Prev: 1.9%

🎯 Fact.: 2.1%

🗓 Economic Calendar at 2026/10/24 (GMT)

08:00 🇪🇺 Manufacturing PMI — Exp: 52.8 Actual: 52.4

08:00 🇪🇺 Services PMI — Exp: 52.8 Actual: 51.7

08:00 🇪🇺 PMI Composite — Exp: 52.7 Actual: 51.9

08:30 🇬🇧 Manufacturing PMI — Exp: 51.8 Actual: 52.8

08:30 🇬🇧 Services PMI — Exp: 51.8 Actual: 53.1

08:30 🇬🇧 PMI Composite — Exp: 51.8 Actual: 53.1

10:30 🇷🇺 ⚡️ Key bank rate — Exp: 14.00% Actual: 14.00%

12:30 🇨🇦 Retail Sales — Exp: 1.3% | 1.1% Actual: 1.2% | 1.2%

13:45 🇺🇸 Manufacturing PMI — Exp: 55.6 Actual: 56.0

13:45 🇺🇸 Services PMI — Exp: 57.9 Actual: 57.9

13:45 🇺🇸 PMI Composite Actual: 57.6

14:00 🇺🇸 UoM Consumer Sentiment — Exp: 46.3 Actual: 48.0


[Updated in real time]

Gold Wave Analysis – 23 October 2026

– Gold broke key support level 4100.00

– Likely to fall to support level 3970.00

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Market Sentiment for October 23, 2026

Platinum Wave Analysis – 23 October 2026

– Platinum broke support level 1610.00

– Likely to fall to support level 1500.00

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Brent Crude Oil Wave Analysis – 23 October 2026

Brent Crude Oil: ⬆️ Buy

– Brent Crude Oil broke resistance level 106.60

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Bitcoin: all eyes on the next move

The crypto market has pulled back by 0.7% over the past 24 hours to $2.74T, returning to the lower boundary of the trading range seen in recent days. Although the market has yet to live up to the ‘Uptober’ moniker, buyers are persistently buying into dips, defending the area around August’s highs. So far, this looks like a classic case of resistance turning into support. If this is the case, the current consolidation will be followed by an upward move above the recent high. However, should support fail, a very sharp decline is likely. Among the most liquid coins, the ratio of gainers to losers stands at roughly 1 to 3. The top gainers were Dash (+7.3%), Polkadot (+4.7%) and Cosmos (+4.2%). That said, the decline suggests caution rather than fear, as the three worst-performing coins (Algorand, Immutable and Aptos) are down between 1.4% and 1.5%.

The sentiment index has pulled back to 50, touching the midpoint of the range for the second time since the second half of August. We interpreted the decisive shift from the lower to the upper half as a change in market sentiment. And now this bull market is being put to the test. In the middle of last month, the dip in sentiment attracted buyers, followed by a 15% rally. However, there is a good chance that this time buyers will prefer to stay on the sidelines, given the weakness in stock and gold markets.

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⚠️ Russia — Key bank rate at 10:30 GMT

✔️ Prev: 14.00%

🕒 Exp: 14.00%

🎯 Fact.: 14.00%

EURUSD failed to break through the French barrier

Capital outflows from France are weighing on the euro.

Safe-haven demand strengthens the yen and franc.

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🇺🇸 Pre-market trading trends on the US stock market

📉 Negative trends are prevailing in the US stock market’s pre-market session, particularly among large-cap stocks, reflecting investors’ flight to safety.

In the Information Technology sector, Apple (AAPL) is down 0.11%, Broadcom (AVGO) is down 0.54%, while Microsoft (MSFT) is down 0.40%.

In the Communication Services sector, Alphabet (GOOGL) is down 0.58%.

In the Financials sector, Berkshire Hathaway (BRK.B) is down 0.36%, while Bank of America (BAC) is down 0.63%.

This combination of selling pressure in major technology and banking companies points to a prevailing risk-off sentiment and increased demand for safe-haven, dollar-denominated assets, creating conditions for short-term support for the US dollar through capital inflows into Treasuries and other conservative instruments, while appetite for risky assets in the US remains subdued.

Johnson & Johnson Wave Analysis – 23 October 2026

Johnson & Johnson: ⬆️ Buy

– Johnson & Johnson reversed from key support level 248.00

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CHFJPY Wave Analysis – 23 October 2026

– CHFJPY reversed from resistance level 192.15

– Likely to fall to support level 189.50

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USDCHF Wave Analysis – 23 October 2026

– USDCHF reversed from key support level 0.8200

– Likely to rise to resistance level 0.8300

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