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January 7th, Futures News: Economies.com analysts latest view: WTI crude oil futures have fallen sharply in recent intraday trading, influenced by the negative pressure of the EMA50, indicating weak momentum and currently imposing clear limitations on any bullish rebound attempts. Although oversold levels have been reached, the Relative Strength Index (RSI) is also sending negative signals, indicating that selling pressure remains dominant under the prevailing short-term bearish trend, foreshadowing technical signals that could threaten future profit-taking attempts.On January 7th, the Shanghai Composite Index fluctuated narrowly in the morning, while the ChiNext Index rose and then fell back. By midday close, the Shanghai Composite Index was up 0.29%, approaching 4100 points, the Shenzhen Component Index was up 0.35%, and the ChiNext Index was up 0.41%. The combined turnover of the Shanghai and Shenzhen stock exchanges reached 1.84 trillion yuan in the morning session, an increase of 53.8 billion yuan compared to the previous trading day. Across the board, over 2500 stocks rose. The memory chip sector saw a major surge, with multiple stocks, including Nanda Optoelectronics and Hengkun New Materials, hitting their daily limit. The semiconductor sector strengthened, with Xinyuan Microelectronics and Hengkun New Materials hitting their 20% daily limit. Rare earth permanent magnet concepts were active, with China Rare Earth, Tongcheng New Materials, and GEM hitting their daily limit. In addition, minor metals, coal, energy metals, tourism and hotels, insurance, and lithography machine concepts were among the top gainers; while mining, shipbuilding, aerospace, beauty and personal care, petroleum, titanium dioxide, and digital currency concepts were among the top losers.The China Earthquake Networks Center officially measured a 6.2-magnitude earthquake in the Philippine archipelago at 11:02 a.m. on January 7, with a focal depth of 10 kilometers.On January 7th, DBS issued a research report raising its target price for China Taiping (00966.HK) from HK$23 to HK$25, maintaining a "Buy" rating. The report noted that 2025 is a transitional year for China Taiping. Currently, over 90% of the companys new business is insurance policies, and its investment strategy has shifted from high-yield to a barbell strategy. With the adjustment largely completed by 2025, management is optimistic about growth in fiscal year 2026. Regarding dividends, the company is focusing on dividend growth to enhance its core solvency.On January 7th, UOB Kay Hian issued a report raising its target price for Baidu (09888.HK) by 9.9%, from HK$151 to HK$166, while also raising its target price for its US-listed shares and maintaining a "Buy" rating. The bank is optimistic about Baidus proposed spin-off of Kunlun Core for a Hong Kong main board listing, believing it would help unlock Baidus financial value and enhance its AI ecosystem. Baidu announced earlier this month that it would spin off Kunlun Core, which, after listing, would remain a consolidated subsidiary of Baidu, with Baidu retaining a 59% stake. Based on these factors, the bank maintained its revenue forecasts for Baidu in the fourth quarter of 2025 and 2026, but lowered its adjusted net profit margin forecasts by 3% and 1%, respectively, projecting adjusted net profits of RMB 4.1 billion and RMB 19.1 billion.

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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