btcanylysis

$BTC failed to reclaim its key support (a price area where buyers step in to defend against declines), and despite S&P futures being higher it's roughly flat today, a warning zone, with a bearish pattern forming and the bias slightly negative. Natural gas is pulling back after yesterday's reversal, and the question is whether it holds its support. Silver has made lower lows for three straight days, which isn't ideal. Gold is bouncing slightly off its support, making this a wait and see period. In earnings, a bank fell sharply on weak results, a fintech company is up about 10 percent, Coca-Cola beat and raised its outlook but slipped on slowing North American demand (TheStreet), UPS beat expectations and raised guidance sending the stock higher (Newsquawk), Boeing posted mixed results, a home appliance company dropped sharply, and a technology manufacturing company is up more than 9 percent, supporting the chip sector. The S&P 500 has bounced off its support and remains within its bull flag (a brief consolidation after a sharp rally). Oil is softer with Brent near 110 dollars as talks continue to ease tensions with Iran (NordFX), though markets no longer put much faith in such headlines. Today's durable goods data came in at 1.8 percent, better than expected (Newsquawk, Breitbart). The biggest event is tomorrow's Fed decision, with markets roughly 90 percent certain rates stay unchanged; the chair's commentary is what matters, with December hike odds around 73 percent (NordFX). This is a market observation only, so base your trading decisions on your own research and risk tolerance
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