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March 24th Futures News: 1. WTI crude oil futures trading volume was 1,964,357 lots, an increase of 687,463 lots from the previous trading day. Open interest was 2,008,082 lots, a decrease of 27,726 lots from the previous trading day. 2. Brent crude oil futures trading volume was 428,868 lots, an increase of 197,686 lots from the previous trading day. Open interest was 312,147 lots, an increase of 14,555 lots from the previous trading day. 3. Natural gas futures trading volume was 584,140 lots, an increase of 148,258 lots from the previous trading day. Open interest was 1,498,754 lots, a decrease of 12,408 lots from the previous trading day.Philippine President: Grounding aircraft is "very likely" due to fuel shortages caused by the war with Iran.Iranian Foreign Minister: During a phone call, the Iranian Foreign Minister and the Egyptian Foreign Minister emphasized the need to continue consultations.On March 24th, Eastspring Investments stated that inflation in major global and Asian economies is expected to rise by an average of 0.4 percentage points due to the impact of the Iran war. Continued increases in energy prices are likely to gradually affect central bank inflation expectations. While most Asian economies are unlikely to cut interest rates in the near term, policy tensions could escalate over time. In the equity market, further corrections are expected as risks shift from inflation to growth. Furthermore, oil price volatility could lead to divergences in industrial production across Asian manufacturing economies; however, strong AI-driven demand supporting North Asian technology exporters should remain robust.Euro Stoxx 50 futures fell 0.9%, FTSE 100 futures fell 0.66%, and DAX futures fell 0.85%.

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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