$BTC is showing strength today, holding its key support (a price area where buyers step in to defend against declines) despite repeated hits; the question now is whether it can rally back to the resistance (a price area where selling pressure tends to build) above, and a breakout there could open a path considerably higher.
Natural gas has fallen sharply for several straight sessions and is close to breaking its longer term ascending trend line, with an important support zone sitting below.
Silver has broken down and needs to reclaim its prior level before the bias can change. Gold confirmed a breakdown below its trend line yesterday, and that line now acts as resistance; interestingly, falling yields are usually positive for gold, yet gold’s chart still looks weak, meaning cross currents are at play.
Meta and Tesla both report earnings after the close today with levels already mapped out. AT&T fell notably after its earnings today. Netflix dropped sharply; its results were good with EPS beating expectations, but weak next quarter guidance and a reduced advertising revenue forecast sent the stock down more than 6 percent, with some analysts also cutting their ratings (Investing.com, MoneyCheck, StocksToTrade).
SpaceX posted strong earnings and the stock surged, improving market sentiment.
A bearish pattern is forming on the US 10 year yield suggesting yields could move lower, with an important zone below where several older levels converge. The S&P 500 is moving higher with an important breakout point in focus, and it remains in its bullish zone.
Oil rose in the morning but has since turned lower, which is supporting the market today.
This is a market observation only, so base your trading decisions on your own research and risk tolerance.
#EarningsSeason #ZcashDevelopersConfirmNovemberDateForNU7Upgrade
Natural gas has fallen sharply for several straight sessions and is close to breaking its longer term ascending trend line, with an important support zone sitting below.
Silver has broken down and needs to reclaim its prior level before the bias can change. Gold confirmed a breakdown below its trend line yesterday, and that line now acts as resistance; interestingly, falling yields are usually positive for gold, yet gold’s chart still looks weak, meaning cross currents are at play.
Meta and Tesla both report earnings after the close today with levels already mapped out. AT&T fell notably after its earnings today. Netflix dropped sharply; its results were good with EPS beating expectations, but weak next quarter guidance and a reduced advertising revenue forecast sent the stock down more than 6 percent, with some analysts also cutting their ratings (Investing.com, MoneyCheck, StocksToTrade).
SpaceX posted strong earnings and the stock surged, improving market sentiment.
A bearish pattern is forming on the US 10 year yield suggesting yields could move lower, with an important zone below where several older levels converge. The S&P 500 is moving higher with an important breakout point in focus, and it remains in its bullish zone.
Oil rose in the morning but has since turned lower, which is supporting the market today.
This is a market observation only, so base your trading decisions on your own research and risk tolerance.
#EarningsSeason #ZcashDevelopersConfirmNovemberDateForNU7Upgrade