All articles tagged with #moving averages
World Gold Council analysts say gold may slip toward $4,215/oz as short-term momentum fades and rising global yields pressure prices, with initial support near $4,311 and the 55-day average around $4,215; resistance is seen at about $4,474 and the 200-day average around $4,530, and a move above could lift the near-term trend, though the market may continue in a sideways range amid hawkish Fed signals and higher yields.
Bitcoin jumped about 23% in the past week on a historic shorts squeeze and a macro catalyst from Treasury buybacks championed by Scott Bessent. Trading activity surged, open interest declined, and funding rates normalized as liquidations surged. The options market flipped to a negative skew, suggesting a momentum shift, while Bitcoin reclaimed major moving averages in four days—a pattern seen at prior cycle bottoms—fueling talk of a potential bull-market reset, even though BTC remains roughly 36% below its all-time high.
Alphabet’s Q2 capex rose to $44.9B with full-year guidance raised to $195–$205B and a big step-up expected in 2027. The market sold GOOG/GOOGL in premarket trading, sending the stock below its 100-day moving average for the first time since April and into potential test of the 200-day around $323. Investors weigh AI-spending costs against upside from Cloud growth (up 82% to $24.8B) and Gemini-enabled monetization, with analysts arguing Alphabet is best positioned to capitalize on AI despite mounting capex.
Apple stock has formed a "death cross" on its chart as its 50-day moving average crossed below the 200-day moving average, signaling potential further weakness. The stock's bearish features include declining relative strength, volume spikes on down days, and a dismal Accumulation/Distribution Rating. Analysts foresee more challenges for Apple due to waning demand, particularly in China, and modest profit and sales growth expectations. Apple's performance in 2024 has been lackluster, with only Tesla faring worse, and the company's profit outlook remains discouraging.
Natural gas retraced its gains after encountering resistance at the 78.6% Fibonacci retracement, with potential support at 2.96 and signs of a correction. Bullish reversal signals were confirmed on the monthly chart, and moving averages indicate an improving outlook, with attention on the 200-Day line at 2.64 as a key level to watch.
Natural gas is experiencing a bearish retracement, with sellers in control and a potential continuation of the downtrend. The failure of the long-term downtrend line to hold as support further indicates a bearish outlook. The next target for natural gas is around $2.22, based on an extended falling ABCD pattern. The breakdown of a large bearish flag and the confirmation by moving averages add to the bearish sentiment, with the 1.95 trend low at risk of being tested as support.
Bitcoin is experiencing a significant chart feature as it prepares for its first-ever weekly golden cross, signaling the start of an early bull market. The crossover of the 50-week and 200-week moving averages (MAs) is considered a classic bullish signal and has never occurred before in Bitcoin's history. This comes after Bitcoin fell below the 200-week MA earlier this year. While some market commentators remain bearish on Bitcoin's price, others believe that considerable upside could be in store if the golden cross phenomenon plays out.
The Dow Jones Industrial Average experienced its first "death cross" since March 2022, as the 50-day moving average fell below the 200-day moving average. While some analysts view this as a bearish signal, others argue that it could present buying opportunities during bull markets. Historically, the Dow has performed well after a death cross, with an average gain of 8.1% one year later. Despite the Dow closing higher, the S&P 500 and Nasdaq Composite closed lower as investors awaited U.S. inflation data. The Dow is up 3.6% year to date and nearly 20% since its September 2022 low.
The gold markets have been fluctuating recently, with the $2000 level acting as a significant barrier. If the market breaks above recent highs, it could target the $2050 region. The $1975 level provides support and may attract value hunters, especially as the 50-Day EMA is poised to cross above the 200-Day EMA. Bond markets also influence gold, particularly when yields rise. While it's not advisable to short gold at the moment, a breakdown below the moving averages could change that. The market is building up for a significant move, so it's important to be cautious and consider small positions to mitigate potential risks.
Traders are pricing in another rate hike as inflation expectations remain elevated, causing the SPDR S&P 500 ETF Trust (SPY) to drop half a percentage point intraday. The SPY could print a bearish engulfing candlestick, indicating lower prices on Monday and negating the recent uptrend. Traders can use moving averages to identify a downtrend, with descending lower timeframe moving averages indicating a shorter-term downtrend and descending longer-term moving averages indicating a long-term downtrend. Miax's SPIKES Volatility products can be used to trade the volatility in the stock market. The SPY has resistance above at $414.89 and $420.76 and support below at $408 and $404.