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Futures News, April 29th: Positive news has boosted market confidence in fuel oil prices. Downstream traders are maintaining their inventory levels to meet pre-holiday demand, resulting in relatively active purchasing. Some refineries have seen significant inventory reductions. With favorable news and supply-demand factors, fuel oil trading is expected to remain stable in some areas today, while others may see slight increases.According to Futures News on April 29, as of 8:30 AM Beijing time, spot platinum rose 0.09% and spot palladium fell 0.12%.Note: The Tokyo Stock Exchange is closed today.Futures News, April 29th - According to foreign media reports, palm oil futures on the Malaysian Derivatives Exchange (BMD) are likely to open higher on Wednesday morning, following gains in external markets. International crude oil futures continued to rise on Tuesday, gaining nearly 3%, due to ongoing concerns about supply constraints caused by the closure of the Strait of Hormuz. This, coupled with a firm rise in Chicago soybean oil futures, will boost the early performance of Malaysian crude palm oil futures. However, weak palm oil export demand will limit the upward momentum. The Indian Refiners Association (SEA) stated that increased biodiesel production in global palm oil exporting countries, diverting more palm oil for domestic energy use, will lead to a reduction in export supply.On April 29th, Futures News reported that Chicago Board of Trade (CBOT) corn futures closed higher on Tuesday, with the benchmark contract rising 1.3%, primarily due to stronger international crude oil futures, robust corn demand, and the possibility that rainfall in the Midwest might slow spring planting. Traders stated that continued rainfall in the US Corn Belt, strong corn export demand, and rising crude oil prices supported corn prices. High fertilizer costs are expected to lead farmers to reduce corn planting area, which also supported corn futures prices. Soybean and corn planting in the US is progressing well, but storms in the Midwest may delay planting in some areas. A report from the US Department of Agriculture showed that as of Sunday, US corn planting progress was 25%, well above the five-year average of 19%. The report also showed that among the 18 major producing states, only North Dakota has not yet made any progress in planting.

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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