Daily review for October 15, 2021
Bitcoin seeks USD$60,000. The SEC could announce the approval of the Bitcoin ETF, which would generate more liquidity in the market.
Dow Jones continues to rise. Today is Goldman Sachs’ turn to present Q3 2021 financial results.
The equities rally continues in the market. Traders begin to assess sell-offs in gold and metals. Energy commodities continue to rally.
DAX 40 and European indices are up. Traders are waiting for inflation results from France and Italy. They are also expecting the Euro Zone Trade Balance data.
| BITCOIN +2.99% |
| The SEC is close to announcing the approval of the Bitcoin ETF. Investors remain optimistic. The ETF gives more liquidity to the market and allows investment funds that are restricted from investing directly in cryptos to enter the market through the ETF. Bitcoin is currently up 2.99% and is trading at USD$59,778. Ethereum is up 4.78% and is trading at USD$3,829. The price is close to USD$60,000. Bulls are looking for this area, then to climb towards USD$63,000. |
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| Support 1: 59,214.6 Support 2: 58,886.3 Support 3: 58,637.6 Resistance 1: 59,791.6 Resistance 2: 60,040.3 Resistance 3: 60,368.6 Pivot Point: 59,463.3 |
| The price maintains the uptrend. On the other hand, it continues above the 200-day moving average. The next zone to attack is USD$60,000. If the Bulls continue to gain ground, the next level is USD$63,000. Today is options expiration. If buying out numbers selling, the rally could continue over the weekend. |
| DOW JONES +0.34% |
| The week of corporate results for Q3 2021 continues. Today it is Goldman Sachs’ turn. Analysts expect Earnings per Share of 10.11. Also sales of USD$11.72 Billion. The market cap of Goldman Sachs stands at USD$125.92 Billion. Meanwhile, the Dow Jones is up 0.34% and is trading at 35,031. Global stock indices are in positive territory. Traders are aware of retail sales as an indicator of demand in the United States. |
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| Support 1: 35,016.8 Support 2: 34,996.1 Support 3: 34,980.3 Resistance 1: 35,053.3 Resistance 2: 35,069.1 Resistance 3: 35,089.8 Pivot Point: 35,032.6 |
| The price is above the 200-day moving average. Expected trading range between 34,980 and 35,089. Pivot point for trend change at 35,032. RSI in overbought zone. Bulls are looking to keep the index above the 35,000 area. |
| GOLD -0.26% |
| The International Monetary Fund (IMF) showed its revision on the global economic growth. In its report, the outlook is downward for global GDP growth. Today, the institution’s delegates are meeting to evaluate the post-pandemic scenarios. On the other hand, traders are looking to consolidate positions in equities. Gold, remains above the level of USD$1,792 per Troy ounce. Bit, it is moving sideways with a bearish outlook. |
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| Support 1: 1,794.51 Support 2: 1,793.88 Support 3: 1,793.01 Resistance 1: 1,796.01 Resistance 2: 1,796.88 Resistance 3: 1,797.51 Pivot Point: 1,795.38 |
| The price is above the 200-day moving average. The Ichimoku cloud projects the price in a range between USD$1,792 and USD$1,780 per Troy ounce. Pivot point for trend change at USD$1,795. RSI neutral. |
| DAX 40 +0.16% |
| The equities rally is also taking place in Europe. At the moment, stock indexes are trading higher. The DAX 40 is up 0.16% and is trading at 15,502 points. To consolidate the rally, traders are aware of the inflation data from Italy, where analysts estimate it at -0.1% per month, and in France where they estimate it at -0.2% per month. Traders are also watching the Euro Zone Trade Balance, which is estimated at €16.1 billion, favored by the depreciation of the Euro. |
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| Support 1: 15,495.6 Support 2: 15,485.8 Support 3: 15,477.1 Resistance 1: 15,514.1 Resistance 2: 15,522.8 Resistance 3: 15,532.6 Pivot Point: 15,504.3 |
| The price is above the 200-day moving average. Pivot point for trend change at 15,504 points. RSI in overbought zone. Expected trading range between 15,477 and 15,532. |
| Sources |
| Reuters Market watch Bloomberg Capitalix Market Research |
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