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May 28th, Futures News: Economies.com analysts latest view: Spot gold prices fell in recent trading after breaking below the key support level of $4,500 yesterday. Selling pressure persisted, with prices briefly dipping to near the $4,400 support level before a limited rebound, benefiting from improved momentum and easing of oversold conditions in the Relative Strength Index (RSI). Despite the brief rebound, the continued short-term downtrend and renewed downward pressure, coupled with gold prices remaining below the EMA50, limited any further short-term rebound opportunities.May 28th, Futures News: Economies.com analysts latest view: WTI crude oil futures prices rose slightly, stabilizing near the $88 support level, which was our target price set in previous analysis. This provided some upward momentum, helping to recover some recent losses and temporarily restore balance. Crude oil prices are also attempting to alleviate the clearly oversold condition on the Relative Strength Index (RSI), especially with positive signals beginning to emerge. However, due to the strong downward correction wave dominating in the short term, with oil prices remaining below the 50-day moving average, downward pressure persists, and the possibility of a strong rebound in the short term is limited.On May 28, local time, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held a symposium with US strategic and business leaders on the sidelines of the UN Security Council high-level meeting in New York on May 27. Wang Yi stated that the historic meeting between the Chinese and US heads of state in Beijing involved frank, in-depth, constructive, and strategic communication on major issues concerning China-US relations and world peace and development, reaching a series of important consensuses. Both sides agreed to define a "constructive strategic and stable relationship between China and the US" as the new positioning of bilateral relations, hoping to make efforts towards a direction of cooperation as the main focus, moderate competition, controllable differences, and a promising future of peace, jointly exploring the correct way for major powers to coexist in the new era. Wang Yi emphasized that "Taiwan independence" is incompatible with peace and stability across the Taiwan Strait. Only by adhering to the one-China principle and the spirit of the three China-US joint communiqués can peace across the Taiwan Strait be guaranteed and conflict and confrontation avoided. Wang Yi stated that China is willing to work with the US to implement the important consensus reached by the two heads of state and take concrete actions to ensure the "constructive strategic and stable relationship" is implemented as soon as possible. He hoped that everyone present would make positive efforts in this regard and promote a broader social consensus.On May 28, local time, on the 27th, Bagheri, Deputy Secretary of Irans Supreme National Security Council, stated that Iran is seeking the release of all Iranian assets frozen by the United States, saying, "This is the legitimate right of the Iranian people." He also emphasized that Iranian assets must be returned to Iran "fully and unconditionally."On May 28th, the fourth batch of land auctions in Shanghai for 2026 was held. According to the Shanghai Municipal Planning and Natural Resources Bureau, the HK306-08 residential land parcel in Jiaxing Road Subdistrict, Hongkou District, was among the successful bids. The parcel is bounded by Taipingqiao Branch Road to the east, planned green space to the south and west, and Linping Road to the north. It has an area of 7,115.32 square meters, a building area of 17,800 square meters, and a building height limit of 80 meters. On the same day, 12 bidders registered for the HK306-08 residential land parcel. The starting price was 1.42 billion yuan, with a starting floor price of approximately 80,000 yuan per square meter. After 63 rounds of bidding, the total transaction price reached 1.93 billion yuan, with a floor price of approximately 109,000 yuan per square meter and a premium rate of 35.63%. The winning bidder was Shanghai Chengtou Real Estate (Group) Co., Ltd.

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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