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March 25 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) corn futures closed slightly higher on Tuesday, with the benchmark contract rising 0.7%. Investment funds are still grappling with the uncertainty surrounding the potential war between the US and Israel against Iran. International crude oil futures rose again on Tuesday, triggering speculative buying in the corn market and pushing up corn prices. Grain and oilseed prices have recently largely followed crude oil price movements, reflecting two factors: firstly, corn and soybean oil are used in biofuel production; and secondly, investors view these crops as a hedge against inflation. The Middle East conflict has disrupted shipping in the Gulf region, causing natural gas prices to surge and impacting the fertilizer market. Furthermore, export restrictions imposed by non-Gulf region fertilizer suppliers, including Russia, could further exacerbate short-term supply shortages. Russia has suspended ammonium nitrate exports until April 21 to ensure domestic supply. Russia controls approximately 40% of the global ammonium nitrate supply.Key Futures Data and Events to Watch Today (March 25, 2026, Wednesday): 1. 09:20 RMB 450 billion 1-year Medium-term Lending Facility (MLF) and RMB 20.5 billion 7-day reverse repos mature today; 2. 17:00 UK LME copper inventory change (tons) to March 25; 3. 22:30 US EIA crude oil inventories (million barrels) for the week ending March 20; 4. 22:30 US EIA Cushing, Oklahoma crude oil inventories (million barrels) for the week ending March 20; 5. 22:30 US EIA Strategic Petroleum Reserves (million barrels) for the week ending March 20; 6. The annual meeting of the European Central Bank and its observers is scheduled to take place.Airgas Chemicals has restricted helium orders following damage to Qatar’s liquefied natural gas fields.1. All three major U.S. stock indexes closed lower. The Dow Jones Industrial Average fell 0.18% to 46,124.06 points, the S&P 500 fell 0.37% to 6,556.37 points, and the Nasdaq Composite fell 0.84% to 21,761.89 points. Salesforce fell over 6%, with IBM falling over 3%, leading the decline. The Wind U.S. Tech Big Seven Index fell 1.29%, with Google falling nearly 4% and Microsoft falling over 2%. The Nasdaq China Golden Dragon Index fell 0.43%, with Hesai Technology falling over 14% and Xinyi Technology falling over 4%, with tech stocks leading the decline. All three major U.S. stock indexes gave back some of Mondays gains. 2. The three major European stock indexes closed mixed. The German DAX fell 0.07% to 22,636.91 points, the French CAC40 rose 0.23% to 7,743.92 points, and the UK FTSE 100 rose 0.72% to 9,965.16 points, mainly due to divergent expectations regarding the Middle East situation and central bank policies. 3. The most active US crude oil futures contract closed up 0.3% at $88.39 per barrel; the most active Brent crude oil futures contract rose 0.02% to $95.94 per barrel. 4. International precious metals futures generally closed higher, with COMEX gold futures rising 1.53% to $4474.90 per ounce and COMEX silver futures rising 3.01% to $71.44 per ounce.The Kuwait Civil Aviation Authority stated that there have been no reports of casualties following the drone attack on the Kuwait airport oil depot.

Bitcoin Break Out or Break Down?

Skylar Shaw

Oct 08, 2022 14:12

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Technical Analysis of Bitcoin

The flat bottom falling top in BTC, which has been as resistance since the beginning of June, was covered in our most recent article. This upper resistance line was tested five times, which tells us that it has followed the highs during the previous five months. As we inch closer to the ever-narrowing apex, BTC has yet to break out of its wedge shape.


Today, we'll take a closer look at a resistance trendline that stretches all the way back to the all-time high on November 21, 2021. The fact that this trendline starts at our all-time high and remained almost unbroken for such a long period offers us a signal that this may be an even more significant resistance line, even if it was only  challenged twice over its 11-month run.


It's interesting to note that on October 4, this upper trendline was broken above, creating a support zone for today's trade. Despite the fact that there may be support there right now, the falling trendline is still oriented downward and is positioned to reach support around about $18,500.