The United States equities markets turned down sharply on August 19 after the minutes from the Federal Reserve’s July meeting showed that participants believed “that there was little evidence to date that inflation pressures were subsiding.” Additionally, Federal Reserve Bank of St. Louis President James Bullard said on August 18 that he favored another large rate hike in the September meeting as he did not believe that inflation had peaked. The bulls repeatedly pushed the price above the overhead resistance of $24,666 between August 13 to 15 but could not sustain the higher levels. The buyers again tried to clear the overhead hurdle on August 17 but the bears held their ground. This may have tempted short-term traders to book profits. That pulled the price below the 20-day exponential moving average (EMA), which was the first sign that bulls may be losing their grip. KEY TRADING LEVELS Top Content This Week! Advancements in the Cryptocurrency World | | | | Ethereum Merge Drama Continues | | | | Invesco Rolls Out New $30 Million | | | | Top Article This Week! | Age Of Zalmoxis: Game Metaverse | | | Free Beer, Multiple Givaways As Metabre.. | | | | H20 Securities Blockchain | | | | | Earnings Disclaimer The information you’ll find in this email is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgment and perform due diligence before using the information in this email. Your success is still up to you. Nothing in this email is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. We also recommend that you check all UK laws to make sure you are in compliance when you create your online business. If you break the city or other local laws, we will not be held liable for any damages you incur |
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