Elevated price targets might bump TSLA a bit more, but realistically it will start coming down to $280-$300 territory. Traders will take profits and bring it back correction. Trade safely and follow the trends.....they repeat themselves, mostly!
Summary of Global Financial and Political Developments (December 2, 2024): Federal Reserve and Monetary Policy: - Potential Interest Rate Cuts: - John Williams (New York Fed President) indicated that monetary policy remains restrictive and future actions depend on incoming data. He expects inflation to decrease to 2% and anticipates U.S. GDP growth around 2.5% in 2024. - Christopher Waller (Fed Governor) expressed support for a rate cut in December due to concerns about inflation stalling above 2%. He noted that the labor market is balanced. - Raphael Bostic (Atlanta Fed President) stated that the economy is on solid footing and is open-minded about upcoming policy decisions, acknowledging uncertainties in the labor market. Market Movements: - U.S. Stock Markets: - The S&P 500 closed at its 54th record high this year, driven by technology stocks like Tesla and Apple. - The Nasdaq 100 rose over 1%. - Treasury Yields: - The 10-year U.S. Treasury yield increased to 4.22% as traders anticipated a potential rate cut. - Currency Markets: - The U.S. dollar strengthened against the euro and yen amid political uncertainties in Europe and expectations of U.S. rate cuts. - Commodity Prices: - Crude oil prices fluctuated due to OPEC uncertainty and a stronger dollar, with WTI crude settling at $68.10 per barrel. OPEC and Oil Production: - OPEC+ sources indicated that the group is likely to extend oil output cuts until the end of the first quarter of 2025. - Iraq halted operations at the Basra oil refinery due to overloaded fuel oil storage tanks. - OPEC crude output rose by 120,000 barrels per day to 27.02 million barrels per day in November. Political Developments: - France: - Prime Minister Michel Barnier faced potential no-confidence votes over the government's budget proposal. - The far-right National Rally party, led by Marine Le Pen, threatened to oppose the budget. - The government made concessions by agreeing to scrap plans to reduce medication reimbursements. - French bond yields rose, with the 10-year yield briefly trading above Greece's for the first time. - The CAC 40 stock index dropped by 1.1% in early trading due to political uncertainties. - United Kingdom: - Prime Minister Starmer named Sir Chris Wormald as the new cabinet secretary and head of the civil service. - South Africa: - Clarified that BRICS has no plans to create a new currency, responding to threats of tariffs from Donald Trump. Geopolitical Tensions: - Middle East: - Israel attacked targets in Lebanon after Hezbollah launched missiles toward Israeli territory, violating the ceasefire. - Former U.S. President Donald Trump warned of severe consequences in the Middle East if Gaza hostages are not released before January 20. - Pro-Iranian Shi'ite militias entered Syria from Iraq to support government forces against rebels. - Syrian and Russian air forces conducted strikes on rebel-held positions. -U.S.-China Relations: - The U.S. tightened export controls on AI memory and semiconductor tools to China to curb technological advancements. - China's Commerce Ministry condemned the U.S. measures as economic coercion. - The Chinese yuan weakened to its lowest level since July. Economic Data Releases: - United States: - ISM Manufacturing PMI for November rose to 48.4, still indicating contraction. - Construction spending increased by 0.4% in October. - Eurozone: - Manufacturing PMI remained in contraction at 45.2 in November. - Unemployment rate held steady at 6.3% in October. - China: - Caixin Manufacturing PMI increased to 51.5 in November, signaling expansion. - Australia: - Retail sales grew by 0.6% month-over-month in October, surpassing forecasts. - Building approvals increased by 4.2% in October. - Canada: - Manufacturing PMI rose to 52.0 from 51.1, indicating improved manufacturing activity. European Central Bank (ECB) Actions: - ECB officials indicated that further rate cuts are likely in December due to persistent inflation concerns. - Olli Rehn and Yannis Stournaras suggested that rate cuts may continue. - Martin Kazaks mentioned that the ECB might discuss a larger rate cut but acknowledged high uncertainty. - ECB's Philip Lane projected that inflation would reach a sustainable 2% in 2025 and noted that monetary policy remains restrictive. Other Notable Events: - Donald Trump nominated Warren Stephens as U.S. Ambassador to the UK. - The Crypto Fear and Greed Index reached 80 out of 100, indicating extreme greed among investors. - China's President Xi Jinping called for the promotion of the Belt and Road Initiative. - China's central bank (PBOC) signaled plans to continue an accommodative monetary policy and reduce financing costs for enterprises and residents. - Japan's government bond market dysfunction eased, according to a Bank of Japan survey. Conclusion: - Global markets are experiencing volatility due to a mix of monetary policy signals, geopolitical tensions, and political uncertainties. - Anticipation of rate cuts by the Federal Reserve and the European Central Bank is affecting bond yields and currency valuations. - Escalating tensions in the Middle East and ongoing U.S.-China trade disputes are contributing to market uncertainty. - Political developments in France are impacting European markets and the euro. - Mixed economic data across major economies highlight the uneven pace of global economic recovery. - Investors are closely monitoring these developments for potential impacts on global financial markets and economic growth prospects.
Bitcoin trades at $95,654 (-1.68%), continuing to work off overbought readings and consolidating the gains that followed its post-election rally to the $99,800 high. Once the current period of consolidation is complete, which may include another leg lower towards $90,000 (Wave c of iv as viewed on the chart below), we expect the uptrend to resume, leading to a break of $100k.
After the pretty decent move we had recently shib has pulled back about 50% of the move we had. We still remain well above the breakout area. This is a great sign for us. It is now consolidating again and seems to be getting tighter here. We could start to curl and head back up ultimately breaking through 3025 area and holding above will b the next bull sign we need. I am continuing to load up on this while it’s below 3k area. In the long run this will be worth the buy in my personal opinion. Let’s see if shib can pop above here shortly. I see it’s getting tighter
Hello, trader. Price is currently in a tight consolidation between the price of 99860.00 and 90682.58 after the strong bullish trend developed in regards to Trump emerging US President. In my view, Bitcoin has the possibility to trade to 124k price before the year ends. If we continue the technical outlook of the chart by placing a fibo extension from the recent low (67,838) to ATH (99,860) and back to (90,862) we can see the 100% fibo extension level price lies pretty nice at 124k. This shows a high tendency of price to attain that high. Don’t miss out! Position yourself to take advantage of the move
Is this a Symmetrical Triangle or Bull Flag? Here is how we decide. The triangle is in white, the flag is in pink. Symmetrical Triangle: higher lows and lower highs, representing a period of consolidation and indecision. The breakout direction typically depends on the preceding trend Bull Flag: A bull flag appears after a strong upward move (the “flagpole”) and consolidates downward in a parallel or slightly sloping trend. It signifies a continuation pattern, with a breakout expected to align with the prior uptrend. Analysis The prior move has seen strong upward momentum (55%, 44%, 33%), which supports the idea of a bull flag if the triangle is sloping slightly downward. However, if the triangle is symmetrical with equal pressure from buyers and sellers (not tilted), it’s likely a symmetrical triangle signaling indecision. I believe this is tilted upwards, signifying bullish. This is confirmed by the fact that net volume is $11 million above sell volume at time of writing. If it’s breaking above the triangle now and aligns with my target of $0.009, the breakout could validate it as a bull flag continuation pattern. 2. Key Factors Supporting the Analysis: Bounce off the 100-day Moving Average: A bounce off a significant moving average like the 100-day MA is typically bullish, indicating that buyers stepped in at a key support level. Breakout Above Triangle: Early signs of breakout above the triangle suggest bullish momentum building up. If confirmed with volume, this supports the bull flag hypothesis. Upcoming Catalyst (Public Hearing): The public hearing for Telbank approval on December 5 could drive speculative buying, adding bullish momentum. There may be a small sell the news effect, but if the hearing is positive this won't last for long. Short-Term Target ($0.009): If this really is a bull flag, the measured move target can be estimated by the height of the flagpole (the previous upward move) added to the breakout point. Risks to Watch: False breakouts are common in symmetrical triangles. Watch volume closely to confirm the breakout. If the price falls back below the 100-day MA, it could invalidate the bullish setup. Summary: Given the price action and catalyst, the pattern appears more like a bull flag continuation. Monitor the breakout level and volume for confirmation. If the pattern holds, the short-term target of $0.009 seems reasonable.
The drop may be behind us. NKE is trying to retake 21 weekly EMA with upcoming ER. If ER can confirm the the worst is behind us, it is probably a good candidate for 2025 turn around play.
If you've been following the charts, you know that the 4.236 Fibonacci extension is a critical level to watch for major market tops—and XRP may be nearing this zone. Why the 4.236 Level Matters In Fibonacci-based technical analysis, the 4.236 extension often represents a psychological and mathematical exhaustion point for bullish moves. Historically, when assets hit this level, we see: Major Profit-Taking Exponential Volatility The Beginning of a Market Reversal For XRP, this level is calculated based on its market cap, not just the price. The market cap hitting 4.236 is often the ultimate signal of euphoria—and also the time to prepare your exit strategy. So whats the top? About $9.4..... NFA but I won't be holding past there.
This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
Key Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # Avalanche / U.S. Dollar - Double Formation * Neckline At 29.6000 | Short Set Up | No Trade * A+ Set Up | Long Bias | Entry At 6.00000 | Subdivision 1 - Triple Formation * 012345 | 3 & 4 | Wave | Subdivision 2 * Retracement | 1 & 0 | Uptrend * Long Bias On Hold | Daily Time Frame | Subdivision 3 Active Sessions On Relevant Range & Elemented Probabilities; London(Upwards) - NYC(Downwards) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Buy