WTI/USD, BTC/USD, ETH/USD, NAS100, DJI30, Technical Outlook, Edition #154 (30/11/2021)
Q looks at the Commodity, Cryptocurrency & Equity Markets in tonight's report 😲 Read on for the latest chart analysis and premium research 👇
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Bulls in jeopardy as US Oil looks to crash the party
After today's teasing, buyers are undoubtedly frustrated.
Qluster analysts perceive a short-live bounce in the markets - only to quickly erase gains over the ensuing trading day.
It seems that wishy-washy price action is to blame for the paring back of recent gains. This market turbulence follows recent remarks made by Moderna CEO Stephane Bancel:
"There is no world, I think, where (the effectiveness) is the same level . . . we had with Delta".
Some may say that, perhaps, it is timelier to wait for more data to prove the vaccine's efficacy - before making such a comment.
On the other hand...
Referring to Commodity Futures Trading Commission, Q recognises that speculators' net bearish bets on US 10-year Treasury note futures have risen to their largest since roughly mid-February 2020 in the latest week data released on Monday.
This shift in bias is a potential red flag for equity traders.
Should money managers shift more capital to Treasuries, the stock markets will likely face difficulty sustaining their bullish uptrend. Moreover, as is the business cycle, this stock market fragility has the capacity to contagion into other correlated markets - such as commodities and cryptocurrency.
To better address the technicals, Qluster analysts present several charts across cryptocurrency, commodity and equity markets.
Let's take a look at some now…
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