Daily Review for April 29, 2022
Traders are watching inflation data in the Euro Zone and GDP in several European countries.
Traders are watching the financial results of Exxon Mobil, Chevron and AstraZeneca. Investment banks in the United States expect very good results from Oil & Gas companies.
Traders are watching the development of the monetary policy strategy of the FED and the ECB, which could generate the trend for the rest of the year for Ethereum.
One of Germany’s major natural gas importers, Uniper, has expressed interest in paying for the commodity to Russia in rubles.
| EUROSTOXX 50 +1.29% |
| Traders are watching inflation data in the Euro Zone and GDP in several European countries, which may define the European Central Bank’s monetary policy strategy. For the Euro Zone, inflation is expected to be 7.5%. In terms of GDP, we will have reports from Spain, Italy, France, Portugal, Germany and the consolidated Euro Zone. At the moment the Eurostoxx 50 is up 1.29% and is trading at 3,755 points. |
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| Support 1: 3,742 Support 2: 3,735 Support 3: 3,728 Resistance 1: 3,756 Resistance 2: 3,763 Resistance 3: 3,770 Pivot Point: 3,749 |
| The index is between support 1 and resistance 1. If the uptrend continues, the price could break above the 200-day moving average. Expected trading range between 3,728 and 3,770. Pivot point for trend change at 3,749. RSI approaching the overbought zone. |
| S&P500 -0.28% |
| Traders are watching the financial results of Exxon Mobil, Chevron and AstraZeneca. Investment banks in the United States expect very good results from Oil & Gas companies, due to the significant increase in commodity prices since the beginning of the war in Ukraine. Traders start trading the S&P500 index due to its diversification component. At the moment the index is down 0.28% and is trading at 4,274 points. |
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| Support 1: 4,271.0 Support 2: 4,266.9 Support 3: 4,262.8 Resistance 1: 4,279.2 Resistance 2: 4,283.3 Resistance 3: 4,287.4 Pivot Point: 4,275.1 |
| The index is between resistance 1 and support 1. The Bulls are looking to break above the 200-day moving average. Expected trading range between 4,262 and 4,287. Pivot point for trend change at 4,275. RSI neutral, so the price could change trend and continue to move towards resistance 1. |
| ETHEREUM +1.05% |
| Traders continue to watch for the migration to Ethereum 2.0, the evolution of the Ethereum platform, which could provide a more efficient way to develop applications, financial transactions, data analysis and more without consuming large amounts of energy. Traders are watching the development of the monetary policy strategy of the FED and the ECB, which could generate the trend for the rest of the year for Ethereum. At the moment the crypto has remained sideways just below the USD$3,000 level. |
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| Support 1: 2,916.65 Support 2: 2,911.46 Support 3: 2,903.06 Resistance 1: 2,930.24 Resistance 2: 2,938.64 Resistance 3: 2,943.83 Pivot Point: 2,925.05 |
| The price is between support 1 and resistance 1, just below the 200-day moving average. For crypto to be in an uptrend over the weekend, price should break above the 200-day moving average today. Bulls’ short-term target is at USD$3,166. Pivot point for trend change is at USD$2,925. RSI neutral, so the uptrend could be maintained. |
| NATURAL GAS -1.22% |
| The United Kingdom announced an early cessation of natural gas purchases from Russia. Russia, for its part, stopped supplying the commodity to Bulgaria and Poland, which are two active NATO members. The Moldovan government is concerned about Russia’s possible expansion into its territory. Turkey, for its part, has tried to remain neutral. US LNG exports to Europe continue to increase. One of Germany’s main importers of natural gas, Uniper, has expressed interest in paying for the commodity to Russia in rubles. |
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| Support 1: 6.859 Support 2: 6.818 Support 3: 6.751 Resistance 1: 6.967 Resistance 2: 7.034 Resistance 3: 7.075 Pivot Point: 6.926 |
| The price is between support 1 and support 3, and remains just below the 200-day moving average. Expected trading range between USD$6.75 and USD$7.07. Pivot point for trend change at USD$6.92. RSI near the oversold zone, so it could present a rebound from the current level. |
| Sources |
| Reuters Market watch Bloomberg Capitalix Market Research |
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