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February 6th - Indian oil giant Reliance Industries has resumed purchasing Venezuelan crude oil after suspending imports in the middle of last year. This trade chain has reopened as India seeks to diversify its supply and as US intervention has brought the South American nations oil back to the market. According to sources familiar with the matter, the refining giant has taken delivery of a Very Large Crude Carrier (VLCC) carrying approximately 2 million barrels of crude oil. India had previously purchased Venezuelan crude oil, and Reliance Industries had imported it under US sanctions waivers prior to last year. In 2019, the companys purchases accounted for approximately 25% of Venezuelas total exports.1. WTI crude oil futures trading volume was 1,076,990 lots, a decrease of 329,637 lots from the previous trading day. Open interest was 2,096,413 lots, a decrease of 17,820 lots from the previous trading day. 2. Brent crude oil futures trading volume was 202,424 lots, a decrease of 116,032 lots from the previous trading day. Open interest was 251,799 lots, an increase of 2,130 lots from the previous trading day. 3. Natural gas futures trading volume was 613,921 lots, an increase of 40,307 lots from the previous trading day. Open interest was 1,654,264 lots, a decrease of 1,161 lots from the previous trading day.February 6th - Iranian Foreign Minister Araqchi and his negotiating team are en route to the US-Iran nuclear talks in Muscat, the capital of Oman. The composition of the Iranian negotiating team is largely the same as in previous rounds of talks, with the exception of Deputy Foreign Minister for Economic Affairs Gambari, who was added to the delegation.On February 6, South Korean President Lee Jae-myung condemned a financial journalist for allegedly profiting from undisclosed information in the stock market, stating that manipulating stock prices will come at a heavy price. Lee made the statement by retweeting a related news report on the social media platform X (formerly Twitter). Over the past two months, Lee has frequently used social media to reiterate his stance of severely punishing those who disrupt financial markets. At the same time, he also reiterated his commitment to maintaining a high-pressure crackdown on transnational crime.February 6th - Following the launch of its free milk tea promotion today, Qianwen (千问) topped the Apple App Stores free app chart by noon. Yuanbao (元宝) came in second, and Doubao (豆包) came in third.

DOGE Eyes a Return to $0.0850 to Aim for $0.090 as FTX Contagion Declines

Daniel Rogers

Nov 23, 2022 15:37

截屏2022-11-23 下午2.24.11.png 

 

On Tuesday, both Dogecoin (DOGE) and shiba inu coin (SHIB) snapped two-day losing streaks. FTX contagion risk diminished as word of FTX cash holdings and investor interest in FTX assets spread. However, technical indications remain gloomy, with exponential moving averages (EMAs) predicting additional declines.

 

On Tuesday, dogecoin (DOGE) gained 5.23 percent. Reversing Monday's loss of 2.99%, DOGE ended the day at $0.0785. Notably, DOGE closed the day below $0.0800 for the third session in a row.

 

The mid-morning low for DOGE was $0.0729. Avoiding the First Major Support Level (S1) at $0.0715, DOGE climbed to a high of $0.0796 in the early afternoon. At $0.0774, DOGE surpassed the First Major Resistance Level (R1) before retreating. However, a late surge caused DOGE to surpass R1 and close the day at $0.0785.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

On Tuesday, the price of Shiba inu coin (SHIB) increased by 4.76 percent. SHIB closed the day at $0.000000881, reversing Monday's decline of 4.21%.

 

In line with the larger market, SHIB reached a low of $0.00000817 during midmorning. Finding support at the First Major Support Level (S1) at $0.00000816, SHIB surged to a high of $0.00000883 by early afternoon. At $0.00000873, SHIB surpassed the First Major Resistance Level (R1) and closed the day at $0.00000881.

 

FTX contagion risk diminished on Tuesday, providing assistance to DOGE, SHIB, and the broader market. Updates on FTX's assets revealed a substantial cash position, which would mitigate the impact of the company's bankruptcy on its creditors.

 

Reports that Justin Sun of Tron and Brad Garlinghouse of Ripple are interested in FTX assets generated additional support.

 

Nonetheless, Twitter news remained unfavorable for DOGE. There was no new information on Twitter's resumption of the crypto integration project that would promote DOGE adoption.

 

However, investor sentiment increased significantly this morning. Risk of FTX contagion remains the primary motivator. Until the court reveals who FTX's creditors are, downside risks will persist. On Tuesday, the bankruptcy judge ruling over FTX decided to redact the identities of FTX's creditors.

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