Daily Commodity Analysis By Capital Street fx

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Daily Commodity Analysis – Gas, Corn Soar, Oil Rises, Gold Steady.​

Introduction​

U.S. natural gas futures are on the rise as the market anticipates the Energy Information Administration’s (EIA) storage report, expected to reveal a significant draw. Projections suggest a draw of approximately -200 to -203 billion cubic feet (Bcf), surpassing the five-year average. Mild weather conditions contribute to lower gas demand, creating volatility in the market. In other commodities, corn futures see midweek gains, while oil prices rise after OPEC+ maintains current output policies. Gold prices remain steady at $2,050, benefiting from a weakened dollar ahead of the nonfarm payrolls data release.

Markets In Focus Today – NATURAL GAS​

Natural Gas Futures Edge Up Ahead Of EIA Report.​

EIA report likely shows natural gas storage draw amid low demand and production downturn due to Freeport LNG issues. EIA report to reveal significant natural gas storage draw. Mild U.S. weather patterns lead to low gas demand. U.S. natural gas futures are experiencing an uptick as the market braces for the Energy Information Administration’s (EIA) weekly storage report. Expected volatility surrounds the report, with predictions pointing to a significant draw of around -200 to -203 billion cubic feet (Bcf), exceeding the five-year average of -185 Bcf. Contributing factors include varied temperatures across the U.S., with warmer conditions in the west and east and cooler temperatures from the Plains to Texas.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 2.36 | Negative Crossover | Bearish
• MA 20 : 2.47 | Negative Crossover | Bearish
• MA 50 : 2.57 | Negative Crossover | Bearish

Simple :​

• MA 10 : 2.35 | Negative Crossover | Bearish
• MA 20 : 2.60 | Negative Crossover | Bearish
• MA 50 : 2.53 | Negative Crossover | Bearish

RSI (Relative Strength Index): 36.41 | Sell Zone | Bearish

Stochastic Oscillator : 5.74 | Sell Zone | Negative

Resistance And Support Levels :​

• R1 : 3.07 R2 : 3.33
• S1 : 2.20 S2 : 1.93

Overall Sentiment: Bearish Market Direction: Sell​

Trade Suggestion: Limit Sell: 2.20 | Take Profit: 2.01 | Stop Loss: 2.34

CORN​

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Daily Crypto Analysis – Crypto Surge, Ripple Falters Again.​

Introduction​

Bitcoin’s price rebounds, testing resistance at $43,000, signaling increased buying pressure after a volatile week. On-chain metrics suggest the potential for a BTC rally as profit-taking by whales decreases. Dogecoin experiences modest gains despite a rise in network activity, while Chainlink surges to a two-year high on the movement of dormant tokens. Ripple’s XRP price declines despite FOMO Pay’s announcement of a link between Asia and Africa, with a crucial support level defining its next directional move.

Markets In Focus Today – BITCOIN​

Bitcoin Price Recovers As On-Chain Metrics Point A Potential BTC Rally.​

Bitcoin price tests resistance at $43,000, recovering from a week-long slump. Bitcoin on-chain metrics signal a likelihood of a BTC price rally. BTC profit-taking by whales has declined, paving the way for extended price gains. Bitcoin (BTC) price tested resistance at $43,000 on Friday, recovering from declines earlier this week, in a sign of increasing buying pressure after a choppy week. Some of the asset’s on-chain metrics support the thesis of further price gains ahead, although Bitcoin price has been moving broadly sideways for the last two months.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 42467.94 | Positive Crossover | Bullish
• MA 20 : 42393.70 | Positive Crossover | Bullish
• MA 50 : 42050.89 | Positive Crossover | Bullish

Simple :​

• MA 10 : 42134.39 | Positive Crossover | Bullish
• MA 20 : 41876.26 | Positive Crossover | Bullish
• MA 50 : 42953.29 | Positive Crossover | Bullish

RSI (Relative Strength Index): 54.07 | Buy Zone | Neutral

Stochastic Oscillator : 82.14 | Neutral Zone | Neutral

Resistance And Support Levels :​

• R1 : 47387.23 R2 : 49860.60
• S1 : 39380.20 S2 : 36906.83

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Stop Buy : 43499.71 | Take Profit: 45288.75 | Stop Loss: 42416.87

DOGECOIN​

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Weekly Commodity Analysis – Oil, gas, gold turmoil, silver rises.​

Introduction​

Oil prices face a weekly decline, influenced by hopes for a Gaza ceasefire and a stronger dollar, eroding the supply risks premium. Natural gas experiences a decline due to a storage draw falling short of demand, impacted by mild weather predictions. Gold slumps below $2,040 as upbeat US Nonfarm Payrolls lift Treasury yields, affecting XAU/USD. Meanwhile, silver rose over 1% to $23.17, supported by central bank decisions and declining global bond yields.

Markets In Focus Today – BRENT CRUDE OIL​

Oil Prices In Weekly Slump As Gaza Ceasefire Hopes, Stronger Dollar Bite.​

Oil prices fell Friday, to end the week deep in the red as growing optimism over an extended ceasefire in the Israel-Hamas war cooled the supply risks premium baked into prices. Faltering growth in China and the possibility of some easing of tensions in the Middle East also reduced prices. High-interest rates, which tend to dampen economic growth and oil demand, in major economies like the United States and the eurozone appear to be here to stay in the near term. A stronger dollar makes oil, priced in the U.S. dollars, more expensive and less attractive to foreign buyers.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 80.00 | Negative Crossover | Bearish
• MA 20 : 79.67 | Negative Crossover | Bearish
• MA 50 : 79.89 | Negative Crossover | Bearish

Simple :​

• MA 10 : 80.76 | Negative Crossover | Bearish
• MA 20 : 79.32 | Negative Crossover | Bearish
• MA 50 : 78.60 | Negative Crossover | Bearish

RSI (Relative Strength Index): 42.65 | Neutral Zone | Neutral

Stochastic Oscillator : 31.58 | Sell Zone | Negative

Resistance And Support Levels :​

• R1 : 83.35 R2 : 85.56
• S1 : 76.22 S2 : 74.01

Overall Sentiment: Bearish Market Direction: Sell​

Trade Suggestion: Limit Sell: 78.31 | Take Profit: 75.73 | Stop Loss: 80.06

NATURAL GAS​

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Weekly Crypto Analysis – Bitcoin up, Ethereum down, Dogecoin active, Chainlink rising.​

Introduction​

Bitcoin’s resurgence to $43,000 signals a recovery after a week-long dip, with on-chain metrics hinting at a potential rally. Declines in profit-taking by BTC whales provide room for extended gains. Meanwhile, Ethereum erases recent gains, facing a significant bearish signal. Dogecoin sees a marginal uplift despite increased network activity, and Chainlink, an outlier in the volatile altcoin market, faces a potential 20% correction. The crypto landscape remains dynamic, with on-chain indicators influencing asset trajectories.

Markets In Focus Today – BITCOIN​

Bitcoin Price Recovers As On-Chain Metrics Point To A Potential BTC Rally.​

Bitcoin price tests resistance at $43,000, recovering from a week-long slump. Bitcoin on-chain metrics signal a likelihood of a BTC price rally. BTC profit-taking by whales has declined, paving the way for extended price gains. Bitcoin (BTC) price tested resistance at $43,000 on Friday, recovering from declines earlier this week, in a sign of increasing buying pressure after a choppy week. Some of the asset’s on-chain metrics support the thesis of further price gains ahead, although Bitcoin price has been moving broadly sideways for the last two months. The asset could kick-start a potential rally as on-chain metrics are bullish and renewed BTC ETFs inflows after weeks of massive GBTC outflows.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 42576.36 | Positive Crossover | Bullish
• MA 20 : 42457.91 | Positive Crossover | Bullish
• MA 50 : 42090.86 | Positive Crossover | Bullish

Simple :​

• MA 10 : 42432.69 | Positive Crossover | Bullish
• MA 20 : 41940.23 | Positive Crossover | Bullish
• MA 50 : 42975.56 | Positive Crossover | Bullish

RSI (Relative Strength Index): 53.44 | Buy Zone | Bullish

Stochastic Oscillator : 85.16 | Buy Zone | Neutral

Resistance And Support Levels :​

• R1 : 47387.23 R2 : 49860.60
• S1 : 39380.20 S2 : 36906.83

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Stop Buy: 43407.56 | Take Profit: 45221.06 | Stop Loss: 42394.13

ETHEREUM​

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Daily Commodity Analysis – Oil surges, gas constraints, gold slides, copper boosted.​

Introduction​

Oil prices rose on Monday as the US plans additional strikes in the Middle East, while Ukrainian drones hit Russia’s largest refinery. The rebound follows last week’s 7% drop, driven by stronger US jobs data and progress in Israel-Hamas ceasefire talks. Concerns about the Middle East conflict persist, impacting oil markets. In the natural gas sector, withdrawals from storage fell short of demand, with expectations of a reversal due to mild weather. Gold prices slide as the dollar surges, fueled by reduced rate-cut expectations. Copper sees a slight rise amid supply concerns in Chile, the world’s top copper producer.

Markets In Focus Today – BRENT CRUDE OIL​

Oil Inches Up As US Plans More Strikes In Mideast, Ukraine Hits Russian Refinery.​

Oil prices nudged higher on Monday, recovering from sharp falls last week, after Washington pledged to launch further strikes on Iran-backed groups in the Middle East and as Ukrainian drones struck southern Russia’s largest refinery. Both benchmarks ended last week down about 7%. They fell 2% on Friday after stronger-than-expected U.S. jobs data suggested interest rate cuts could be further out than expected and on progress in ceasefire negotiations between Israel and Hamas. Investors remained wary of any escalation in the Middle East conflict after the U.S. signaled further strikes on Iran-backed groups in the Middle East in response to a deadly attack on U.S. troops in Jordan.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 79.49 | Negative Crossover | Bearish
• MA 20 : 79.43 | Negative Crossover | Bearish
• MA 50 : 79.79 | Negative Crossover | Bearish

Simple :​

• MA 10 : 80.49 | Negative Crossover | Bearish
• MA 20 : 79.37 | Negative Crossover | Bearish
• MA 50 : 78.52 | Negative Crossover | Bearish

RSI (Relative Strength Index): 42.02 | Neutral Zone | Neutral

Stochastic Oscillator : 17.15 | Sell Zone | Negative

Resistance And Support Levels :​

• R1 : 83.36 R2 : 85.57
• S1 : 76.22 S2 : 74.02

Overall Sentiment: Bearish Market Direction: Sell​

Trade Suggestion: Limit Sell: 76.99 | Take Profit: 74.82 | Stop Loss: 78.59

NATURAL GAS​

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Daily Crypto Analysis – Bitcoin, XRP, Chainlink dynamics.​

Introduction​

Bitcoin remains flat at around $42,000 as East Asia anticipates the Lunar New Year, marking the start of the ‘Year of the Dragon.’ Despite a sell-the-news effect in the crypto market, optimism prevails due to controlled inflation and an upcoming Bitcoin halving event. Meanwhile, XRP trades unchanged ahead of a crucial milestone in the SEC vs. Ripple lawsuit on February 12. Chainlink sees a price rebound as large wallet holders strategically accumulate LINK tokens, while Dogecoin’s price stability hints at potential bottom formation despite recent network activity spikes.

Markets In Focus Today – BITCOIN​

Bitcoin Flat As Traders Look Forward To The ‘Year Of The Dragon’.​

Bitcoin (BTC) traded flat, hovering over $42,000 early Monday, while the CoinDesk 20 Index {{CD20}} is down 0.75% at 1,643, according to CoinDesk Indices data, as nations in East Asia count down the last working days before the Lunar New Year holiday. Over the next few days, East Asia will celebrate the start of the year of the dragon, considered one of the luckiest and most prosperous animals in the Chinese Zodiac. Despite the crypto market currently experiencing a sell-the-news effect, the year of Dragon is on track to be one of the best performing as the inflation is now under control and the bitcoin halving event takes place later this year.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 42683.30 | Positive Crossover | Bullish
• MA 20 : 42535.76 | Positive Crossover | Bullish
• MA 50 : 42151.49 | Positive Crossover | Bullish

Simple :​

• MA 10 : 42823.99 | Positive Crossover | Bullish
• MA 20 : 41941.95 | Positive Crossover | Bullish
• MA 50 : 43019.07 | Positive Crossover | Bullish

RSI (Relative Strength Index): 53.82 | Buy Zone | Bullish

Stochastic Oscillator : 81.89 | Buy Zone | Neutral

Resistance And Support Levels :​

• R1 : 47387.23 R2 : 49860.60
• S1 : 39380.20 S2 : 36906.83

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Stop Buy: 43460.89 | Take Profit: 45061.04 | Stop Loss: 42447.47

RIPPLE​

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Daily Commodity Analysis – Crude up, Silver down, Gold eyes $2,000.​

Introduction​

WTI crude oil prices hover around $72.90 amid ongoing tensions in the Middle East. The US Dollar’s slight decline supports the uptick, but concerns about global supply disruptions due to Middle East tensions and Russia’s actions in Ukraine may limit the downside. Gold steadies near $2,000 as the dollar rally pauses, with the near-term outlook influenced by worries about prolonged US interest rates. Corn futures show mixed midday movement, rebounding from earlier weakness. Meanwhile, silver (XAG/USD) hit a two-week low at $22.25, dropping over 1.40%, impacted by rising US Treasury yields and Powell’s hawkish stance on interest rates.

Markets In Focus Today – CRUDE OIL​

WTI Recovers Some Lost Ground Near $73.00 Amid Ongoing Middle East Tension.​

WTI prices attract some buyers near $72.90 amid the ongoing Middle East tension. The upbeat US economic data might convince the Federal Reserve (Fed) to keep its benchmark rate higher for longer. The US launched retaliatory airstrikes on Friday against Iran’s Islamic Revolutionary Guard Corps and allied militias in Iraq and Syria. Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $72.90 on Tuesday. WTI prices edge higher on the modest decline of US dollars (USD). The downside of WTI prices might be capped by concerns that tensions in the Middle East and Russia’s ongoing invasion of Ukraine could curb global supplies.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 74.2361 | Negative Crossover | Bearish
• MA 20 : 74.2010 | Negative Crossover | Bearish
• MA 50 : 74.7017 | Negative Crossover | Bearish

Simple :​

• MA 10 : 75.3019 | Negative Crossover | Bearish
• MA 20 : 74.1892 | Negative Crossover | Bearish
• MA 50 : 73.3012 | Negative Crossover | Bearish

RSI (Relative Strength Index): 45.8300 | Neutral Zone | Neutral

Stochastic Oscillator : 22.3991 | Sell Zone | Positive

Resistance And Support Levels :​

• R1 : 78.6054 R2 : 80.9659
• S1 : 70.9639 S2 : 68.6034

Overall Sentiment: Bearish Market Direction: Sell​

Trade Suggestion: Limit Sell: 73.59 | Take Profit: 71.40 | Stop Loss: 75.09

GOLD​

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Daily Crypto Analysis – Bitcoin, Ethereum, XRP, Uniswap.​

Introduction​

Bitcoin’s price appears poised for a 5% drop despite Powell’s bullish outlook, with technical indicators signaling limited upside potential. Ethereum (ETH) maintains a range between $2,266 and $2,333, facing resistance at recent highs, while the staking ratio surges to 24%. XRP holds steady above $0.50 amid setbacks in the SEC vs. Ripple legal battle. Uniswap (UNI) eyes a bullish move towards $7 after introducing a new feature, trading above $6.00 and the 100 simple moving average.

Markets In Focus Today – BITCOIN​

Bitcoin Price Is Likely To Fall 5% Despite Powell’s Bullish Thesis For Bitcoin.​

Bitcoin price continues to trade horizontally with technical indicators showing limited upside potential. BTC could drop 5% after a multi-week consolidation below the $43,750 blockade. The bearish thesis will be invalidated if the price breaks and closes above $46,000. Fed chair Jerome Powell said the US is on an “unsustainable path” as debt will outpace economic growth. In his opinion, investors will soon question the government’s ability to pay its debt, which will push them towards dumping the US dollar in favor of a hedge. In such a turn of events, Bitcoin would pass as the best candidate for this hedge.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 42628.0793 | Positive Crossover | Bullish
• MA 20 : 42517.1815 | Positive Crossover | Bullish
• MA 50 : 42157.9179 | Positive Crossover | Bullish

Simple :​

• MA 10 : 42830.6130 | Negative Crossover | Bearish
• MA 20 : 41917.0685 | Positive Crossover | Bullish
• MA 50 : 43012.1772 | Negative Crossover | Bearish

RSI (Relative Strength Index): 51.6391 | Buy Zone | Bullish

Stochastic Oscillator : 75.8080 | Buy Zone | Negative

Resistance And Support Levels :​

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Stop Buy: 43418.52 | Take Profit: 44722.75 | Stop Loss: 42626.67

ETHEREUM​

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Daily Commodity Analysis – gold, oil, investment trends.​

Introduction​

Gold prices remain range-bound amid persistent fears of a rate cut. Despite a slight relief as the dollar retreats from three-month highs, uncertainties loom due to diminished expectations of early U.S. interest rate adjustments. Bullion faces pressure from bets on prolonged higher interest rates, influenced by robust U.S. economic data and hawkish Federal Reserve comments. In the commodities market, copper edges lower ahead of crucial cues from China, impacted by concerns over slowing demand. Oil prices rise for the third consecutive day on lower-than-expected U.S. crude stockpiles, contributing to a balanced 2024 outlook. Natural gas futures slide as warmer weather outweighs potential mid-month cold.

Markets In Focus Today – GOLD​

Gold Prices Range Bound As Rate Cut Fears Persist.​

Gold prices moved little on Wednesday but saw some relief as the dollar eased from three-month highs, although waning bets on early U.S. interest rate cuts kept the outlook for the yellow metal uncertain. Bullion prices were battered by bets on higher-for-longer interest rates, especially following a slew of strong U.S. economic readings and hawkish comments from Federal Reserve officials. The dollar and U.S. Treasury yields had surged on these signals. While the dollar fell slightly from three-month highs on Wednesday, the greenback was still sitting on strong gains so far in 2024.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 2033.6296 | Negative Crossover | Bearish
• MA 20 : 2033.0816 | Negative Crossover | Bearish
• MA 50 : 2024.4301 | Positive Crossover | Bullish

Simple :​

• MA 10 : 2033.5021 | Negative Crossover | Bearish
• MA 20 : 2030.8546 | Positive Crossover | Bullish
• MA 50 : 2034.6432 | Negative Crossover | Bearish

RSI (Relative Strength Index): 50.1219 | Buy Zone | Bullish

Stochastic Oscillator : 42.6026 | Neutral Zone | Positive

Resistance And Support Levels :​

• R1 : 2069.3814 R2 : 2087.5486
• S1 : 2010.5686 S2 : 1992.4014

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Stop Buy: 2036.80 | Take Profit: 2057.10 | Stop Loss: 2024.01

COPPER​

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Daily Crypto Analysis – Ethereum, Ripple, Bitcoin dramas.​

Introduction​

Ethereum approaches a critical juncture, gaining 1.6% to $2,350 but facing resistance near $2,400—a historical turning point. Meanwhile, XRP faces a potential downside as Ripple seeks a deadline extension in the SEC lawsuit. Bitcoin maintains an uptrend, with Chinese investors favoring US-focused ETFs. Chainlink experiences a rebound as large wallet investors strategically accumulate LINK tokens, triggering a price surge. Cryptocurrency markets are influenced by key levels, legal developments, and global investor trends.

Markets In Focus Today – ETHEREUM​

Ethereum Nears A Recent Turning Point.​

The crypto market cap remained at $1.65 trillion. Ethereum was a major growth driver, gaining 1.6% on the day to $2,350 and reversing to the downside as it approached $2,400. This is the same place where we saw a reversal at the end of January and for a month since the beginning of December. In December, the coin managed to hold above this reversal level for almost a fortnight, but with the current lull in the markets, a temporary pullback to the lower end of the range towards $2,200 looks more likely.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 2325.0890 | Positive Crossover | Bullish
• MA 20 : 2331.7122 | Positive Crossover | Bullish
• MA 50 : 2311.0629 | Positive Crossover | Bullish

Simple :​

• MA 10 : 2317.9250 | Positive Crossover | Bullish
• MA 20 : 2319.9590 | Positive Crossover | Bullish
• MA 50 : 2346.5422 | Positive Crossover | Bullish

RSI (Relative Strength Index): 53.4167 | Buy Zone | Bullish

Stochastic Oscillator : 79.7122 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 2598.0773 R2 : 2733.3927
• S1 : 2160.0227 S2 : 2024.7073

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Stop Buy: 2377.15 | Take Profit: 2461.21 | Stop Loss: 2329.51

RIPPLE​

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Daily Commodity Analysis – WTI up, corn down, Fed awaits.​

Introduction​

WTI oil price hovers around $74.20 per barrel, maintaining a positive bias after Israel rejects a ceasefire offer from Hamas. Crude oil prices are expected to continue their winning streak, supported by geopolitical developments. Meanwhile, gold struggles to gain traction amid uncertainty about the Federal Reserve’s rate cut path, keeping traders cautious. Silver faces renewed selling pressure, hitting a two-week low and remaining vulnerable to further declines.

Markets In Focus Today – CRUDE OIL​

WTI Hovers Around $74.20 With A Positive Bias After Israel Rejected Hamas’s Ceasefire Offer.​

WTI price could gain ground as Israel has dismissed Hamas’ offer for a ceasefire.EIA Crude Oil stockpiles came in at 5.521 million barrels against the expected 1.895 million barrels. The largest US oilfield, the Permian shale basin, is projected to experience its slowest annual growth since 2021. West Texas Intermediate (WTI) oil price hovers around $74.20 per barrel during the Asian session on Thursday. Crude oil prices are expected to continue their winning streak for the fourth consecutive session. WTI price receives upward support as an obstacle emerges on a ceasefire in the Israel-Gaza conflict.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 74.2378 | Negative Crossover | Bearish
• MA 20 : 74.2128 | Negative Crossover | Bearish
• MA 50 : 74.6695 | Negative Crossover | Bearish

Simple :​

• MA 10 : 74.9197 | Negative Crossover | Bearish
• MA 20 : 74.4121 | Negative Crossover | Bearish
• MA 50 : 73.2419 | Positive Crossover | Bullish

RSI (Relative Strength Index): 49.7858 | Buy Zone | Bullish

Stochastic Oscillator : 31.3964 | Sell Zone | Positive

Resistance And Support Levels :​

• R1 : 78.6054 R2 : 80.9659
• S1 : 70.9639 S2 : 68.6034

Overall Sentiment: Bearish Market Direction: Sell​

Trade Suggestion: Limit Sell: 74.53 | Take Profit: 72.35 | Stop Loss: 76.10

CORN​

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Daily Crypto Analysis – Bitcoin, Ethereum surge, Chainlink mystery.​

Introduction​

Bitcoin sustains its uptrend as Chinese investors shift from the local market to US-focused ETFs. The price remains within the upper Bollinger Indicator range, potentially making a 5% move upwards to surpass the $43,750 hurdle. Ethereum gears up for gains with the Dencun upgrade on the Holesky testnet, while Uni-swap sees a 4.49% increase in the last 24 hours. A mysterious buyer acquires $42 million in Chainlink (LINK) tokens, sparking speculation and driving the cryptocurrency’s surge.

Markets In Focus Today – BITCOIN​

Bitcoin Price Sustains An Uptrend As Chinese Investors Stampede Out Of The Local Market In Favor Of US-Focused ETFs.​

Bitcoin price is trading horizontally, trapped within the upper range of the Bollinger Indicator.BTC could make a 5% move north soon to clear the $43,750 blockade as volatility increases. A strong break and close below the center-line of the Bollinger at $41,880 would invalidate the bullish thesis.ETF specialist Eric Balchunas highlights how Chinese investors are flocking to the US ETF market. Bitcoin’s (BTC) price continues to sustain its bullish outlook, holding above a key support level. Among other drivers, the spot BTC exchange-traded fund (ETF) theme continues to drive markets even as the investor countdown to the halving event continues.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 43262.1597 | Positive Crossover | Bullish
• MA 20 : 42887.8580 | Positive Crossover | Bullish
• MA 50 : 42343.4271 | Positive Crossover | Bullish

Simple :​

• MA 10 : 43206.8140 | Positive Crossover | Bullish
• MA 20 : 42223.8335 | Positive Crossover | Bullish
• MA 50 : 43076.1382 | Positive Crossover | Bullish

RSI (Relative Strength Index): 61.6088 | Buy Zone | Bullish

Stochastic Oscillator : 91.3043 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 44614.62 | Take Profit: 45515.19 | Stop Loss: 43372.90

ETHEREUM​

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Daily Commodity Analysis – Oil rises on geopolitical tensions, gas hits low.​

Introduction​

Oil remains stable with prospects of weekly gains after Israel rejects a ceasefire offer from Hamas, sustaining tensions in the Middle East. Both Brent and WTI experienced a 3% surge as Israeli forces continued operations. Due to bearish storage reports and unfavorable weather forecasts, natural gas futures hit a more than three-year low. Gold struggles amid uncertainty over aggressive Fed rate cuts, while silver shows recovery but faces technical challenges for sustained gains.

Markets In Focus Today – BRENT CRUDE OIL​

Oil Heads For Weekly Gains After Israel Rejects Ceasefire Offer.​

Oil prices were little changed on Friday, staying on track for weekly gains, with tensions persisting in the Middle East after Israel rejected a ceasefire offer from Hamas. Both benchmarks rose about 3% in the previous session as Israeli forces bombed the southern border city of Rafah on Thursday after Prime Minister Benjamin Netanyahu rejected a proposal to end the war in the Palestinian enclave The tensions have kept oil prices elevated, with Brent and WTI both set to gain more than 5% for the week.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 80.1468 | Positive Crossover | Bullish
• MA 20 : 79.8148 | Positive Crossover | Bullish
• MA 50 : 79.8974 | Positive Crossover | Bullish

Simple :​

• MA 10 : 80.1115 | Positive Crossover | Bullish
• MA 20 : 79.9283 | Positive Crossover | Bullish
• MA 50 : 78.4612 | Positive Crossover | Bullish

RSI (Relative Strength Index): 56.5250 | Buy Zone | Neutral

Stochastic Oscillator : 56.4783 | Neutral Zone | Neutral

Resistance And Support Levels :​

• R1 : 83.3603 R2 : 85.5650
• S1 : 76.2230 S2 : 74.0183

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 80.89 | Take Profit: 83.41 | Stop Loss: 79.57

NATURAL GAS​

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Daily Crypto Analysis – Bitcoin hits $46.2K, Ethereum $2,400.​

Introduction​

Bitcoin surges, marking a new high in crypto market capitalization since January 12, surpassing $1.75 trillion. Bitcoin’s recent 10% gain, reaching $46.2K in four days, draws attention to its potential to break previous highs. Cardano (ADA) anticipates a 30% climb with a break above $0.5410, while Ethereum hits $2,400 fueled by ETF anticipation. XRP faces a potential decline below $0.50 amid uncertainty over an XRPLedger AMM amendment. Market dynamics suggest a revival, altering the outlook for Cardano and Ethereum.

Markets In Focus Today – BITCOIN​

Bitcoin Rises Ahead Of Schedule.​

The crypto market capitalization has hit new highs since 12th January, passing the $1.75 trillion mark. The market has confidently moved into a state of greed, which we also last saw a month ago. Last month’s corrective pullback and early February’s consolidation have helped gather strength for a real breakout. Bitcoin has gained almost 10% in the last four days to trade at $46.2K. All eyes are now on whether BTCUSD can break above the previous highs from which it pulled back shortly after the initial reaction to the launch of spot ETFs.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 44025.5288 | Positive Crossover | Bullish
• MA 20 : 43329.9591 | Positive Crossover | Bullish
• MA 50 : 42548.5755 | Positive Crossover | Bullish

Simple :​

• MA 10 : 43669.4930 | Positive Crossover | Bullish
• MA 20 : 42517.1160 | Positive Crossover | Bullish
• MA 50 : 43150.4340 | Positive Crossover | Bullish

RSI (Relative Strength Index): 70.4534 | Buy Zone | Bullish

Stochastic Oscillator : 97.4049 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 45760.44 | Take Profit: 47362.01 | Stop Loss: 44781.71

CARDANO​

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Weekly Commodity Analysis – Gold falters, silver rises, oil soars.​

Introduction​

XAU/USD faces a 0.40% dip to $2,025, signaling a bearish sentiment. Despite soft CPI revisions, gold struggles for traction. Daily chart indicators show a bearish bias, while the four-hour chart suggests a consolidation of losses. Attention turns to next week’s US CPI figures for market direction. Silver (XAG/USD) sees a modest 0.15% gain, trading at $22.60, influenced by a weaker USD. Silver’s potential move toward $23.00 is hinted at, with indications of bottoming out between $22.15-$22.50. Meanwhile, oil prices rise 6% weekly due to Middle East concerns, while natural gas faces a bearish outlook amid ample supply and low demand.

Markets In Focus Today – GOLD​

XAU/USD Declines As Bears Gather Traction Ahead Of US CPI.​

The XAU/USD retreated to $2,025 on Friday, registering losses of 0.40% on the day. Despite soft CPI revisions, the metal failed to gather traction. Daily chart indicators hint at a bearish bias, with RSI’s negative slope and MACD’s rising red bars suggesting selling momentum. In the four-hour chart, indicators appear flat hinting at a consolidation of losses. In Friday’s session, the XAU/USD was observed at a trading level of $2,025, marking a dip of 0.40%. Focus is set on next week’s Consumer Price Index (CPI) figures from January after the US downward revised the December figures, to continue placing their bets on the next Federal Reserve (Fed) decisions.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 2032.3019 | Negative Crossover | Bearish
• MA 20 : 2032.5195 | Negative Crossover | Bearish
• MA 50 : 2024.8748 | Negative Crossover | Bearish

Simple :​

• MA 10 : 2035.7342 | Negative Crossover | Bearish
• MA 20 : 2030.0041 | Negative Crossover | Bearish
• MA 50 : 2033.6970 | Negative Crossover | Bearish

RSI (Relative Strength Index): 46.9072 | Buy Zone | Bullish

Stochastic Oscillator : 38.4197 | Sell Zone | Negative

Resistance And Support Levels :​

• R1 : 2069.3814 R2 : 2087.5486
• S1 : 2010.5686 S2 : 1992.4014

Overall Sentiment: Bearish Market Direction: Sell​

Trade Suggestion: Stop Sell: 2022.31 | Take Profit: 1987.13 | Stop Loss: 2043.41

SILVER​

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Weekly Crypto Analysis – Bitcoin $47K, Ethereum $2.4K, Cardano bullish.​

Introduction​

Cryptocurrency stocks surge as Bitcoin surpasses $47,000, pushing the crypto market capitalization beyond $1.75 trillion. After a month of corrections, Bitcoin’s 4.5% rise signals renewed market optimism. Ethereum hits $2,400 with ETF anticipation and 25% staking reducing selling pressure. XRP faces uncertainty with an AMM amendment, while Cardano’s potential 30% surge is anticipated amid a market revival, breaking a descending triangle at $0.5410. The crypto landscape is evolving, showcasing signs of recovery.

Markets In Focus Today – BITCOIN​

Crypto Stocks Leap As Bitcoin Crosses $47,000.​

Bitcoin (BTC) crossed the $47,000 mark on Friday for the first time in almost a month, pushing crypto-related stocks into the green ahead of the stock market open. The leading cryptocurrency rose 4.5% in the past 24 hours, sitting at around $47,300 at the time of writing. The crypto market capitalization has hit new highs since 12th January, passing the $1.75 trillion mark. The market has confidently moved into a state of greed, which we also last saw a month ago. Last month’s corrective pullback and early February’s consolidation have helped gather strength for a real breakout.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 44664.8142 | Positive Crossover | Bullish
• MA 20 : 43733.5166 | Positive Crossover | Bullish
• MA 50 : 42746.0413 | Positive Crossover | Bullish

Simple :​

• MA 10 : 44170.8670 | Positive Crossover | Bullish
• MA 20 : 42816.5615 | Positive Crossover | Bullish
• MA 50 : 43220.9448 | Positive Crossover | Bullish

RSI (Relative Strength Index) : 71.9283 | Buy Zone | Bullish

Stochastic Oscillator : 88.5202 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 46150.40 | Take Profit: 48924.02 | Stop Loss: 44385.37

ETHEREUM​

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Daily Commodity Analysis – Gold, Copper, Oil, Natural Gas.​

Introduction​

Gold prices stagnate around $2,020, grappling with conflicting signals amid hawkish Fed sentiments and positive market sentiment. The USD’s defensive stance, driven by Fed rate cut uncertainty, offers support. Traders eagerly await Tuesday’s US CPI data for market direction. Meanwhile, Copper faces a downturn on the discovery of a sizable deposit in Zambia, signaling potential oversupply. Oil prices dip as Israel concludes Gaza strikes, alleviating Middle East supply concerns. Natural gas experiences a three-year low due to increased production and policy uncertainties, reflecting a bearish market sentiment.

Markets In Focus Today – GOLD​

Gold Price Flat-Lines Amid Mixed Cues, Look To US CPI On Tuesday For Fresh Impetus.​

Gold price struggles to lure buyers amid hawkish Fed expectations and the upbeat market mood. The Fed rate cut uncertainty keeps the USD bulls on the defensive and lends support to the metal. Traders await Tuesday’s US consumer inflation figures before placing directional bets. Gold price (XAU/USD) kicks off the new week on a subdued note and oscillates in a narrow trading range, just above the $2,020 level during the Asian session. The recent surge in the US Treasury bond yields, bolstered by the upbeat US macro data and hawkish rhetoric from several Federal Reserve (Fed) officials, along with a generally positive risk tone, act as a headwind for the safe-haven precious metal. The downside, however, remains cushioned in the wake of a softer US Dollar (USD), which tends to benefit the USD-denominated commodity.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 2030.6821 | Negative Crossover | Bearish
• MA 20 : 2031.6503 | Negative Crossover | Bearish
• MA 50 : 2024.8167 | Negative Crossover | Bearish

Simple :​

• MA 10 : 2034.7780 | Negative Crossover | Bearish
• MA 20 : 2028.4637 | Negative Crossover | Bearish
• MA 50 : 2033.5879 | Negative Crossover | Bearish

RSI (Relative Strength Index): 46.5022 | Buy Zone | Bullish

Stochastic Oscillator : 31.6536 | Sell Zone | Negative

Resistance And Support Levels :​

• R1 : 2069.3814 R2 : 2087.5486
• S1 : 2010.5686 S2 : 1992.4014

Overall Sentiment: Bearish Market Direction: Sell​

Trade Suggestion: Stop Sell: 2022.73 | Take Profit: 2001.46 | Stop Loss: 2036.41

COPPER​

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Daily Crypto Analysis – Bitcoin, XRP, Dogecoin, and Chainlink surge ahead.​

Introduction​

Bitcoin experiences a substantial rally, marking its most significant weekly surge in four months, reaching one-month highs. Analysts attribute the surge to increased buying activity ahead of April’s halving event and a slowdown in ETF outflows. Meanwhile, XRP faces a slight dip as the SEC v. Ripple lawsuit nears the end of the discovery phase, with potential resolution as early as 2024. Dogecoin anticipates double-digit gains, breaking a declining trend line, while a Chainlink whale accumulates $84 million worth of LINK, sparking speculation of a potential surge in the cryptocurrency’s price.

Markets In Focus Today – BITCOIN​

Bitcoin Surges In Biggest Weekly Rally In Four Months.​

Bitcoin rose to one-month highs, powered by what analysts said was a flurry of buying ahead of April’s halving event and as recent outflows from exchange-traded funds slowed. BTC/USD longs had a splendid week. The major crypto has added an eye-watering +10.7%. Bitcoin hit a two-year high just above $49,000 in January but has since trended lower, under pressure from a “sell the news” wave of profit-taking after the Securities and Exchange Commission finally approved the ETFs.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 45819.8409 | Positive Crossover | Bullish
• MA 20 : 44541.3564 | Positive Crossover | Bullish
• MA 50 : 43165.7998 | Positive Crossover | Bullish

Simple :​

• MA 10 : 45187.0510 | Positive Crossover | Bullish
• MA 20 : 43662.7295 | Positive Crossover | Bullish
• MA 50 : 43401.9354 | Positive Crossover | Bullish

RSI (Relative Strength Index): 72.5472 | Buy Zone | Bullish

Stochastic Oscillator : 92.9737 | Neutral Zone | Neutral

Resistance And Support Levels :​

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 47324.88 | Take Profit: 48810.05 | Stop Loss: 46433.79

RIPPLE​

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Daily Commodity Analysis – WTI, Corn surge, Gold, and Silver await.​

Introduction​

WTI oil prices surge towards $77.00 amid escalating Middle East tensions, fueled by Houthi strikes on a ship. Geopolitical concerns in the Israel-Hamas conflict heighten supply disruption fears. Meanwhile, US shale production may increase by 20,000 bpd in March. In the agriculture sector, corn closes higher, supported by increased weekly shipments, while gold and silver prices remain steady, awaiting US inflation data for rate cues.

Markets In Focus Today – CRUDE OIL​

WTI Rises Towards $77.00 On Escalated Middle East Tension, Houthi Strikes At A Ship.​

WTI price extends its gains on a threat of supply disruptions due to the Israel-Hamas conflict. Yemen’s Houthi rebels launched missiles at a ship headed for a port in Iran. US top shale-producing regions could increase output by 20,000 bpd to 9.7 million bpd in March. West Texas Intermediate (WTI) oil price extends its winning streak initiated on February 5, buoyed by heightened geopolitical tension in the Middle East. The price of Crude oil climbs towards $77.00 per barrel during the Asian session on Tuesday. Yemen’s Houthi rebels reportedly launched missiles at a ship headed for a port in Iran, resulting in minor damage to the vessel but no injuries to its crew, according to authorities.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 75.6741 | Positive Crossover | Bullish
• MA 20 : 75.0692 | Positive Crossover | Bullish
• MA 50 : 74.9993 | Positive Crossover | Bullish

Simple :​

• MA 10 : 74.9310 | Positive Crossover | Bullish
• MA 20 : 75.2041 | Positive Crossover | Bullish
• MA 50 : 73.3472 | Positive Crossover | Bullish

RSI (Relative Strength Index): 59.0643 | Buy Zone | Bullish

Stochastic Oscillator : 69.4536 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 78.6054 R2 : 80.9659
• S1 : 70.9639 S2 : 68.6034

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 76.69 | Take Profit: 79.03 | Stop Loss: 75.49

Wheat Futures​

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Daily Crypto Analysis – Bitcoin hits $50K, XRP up 5%, Cardano inflows soar.​

Introduction​

Bitcoin breaks the $50,000 mark for the first time in over two years, potentially aiming for the psychological level of $60,000. However, caution is urged due to overbought conditions. Meanwhile, XRP sees a 5% weekly gain, reaching $0.5380, driven by a potential settlement in the SEC v. Ripple lawsuit. Cardano witnesses an extraordinary 1,016% increase in fund inflows, while Ethereum rallies over 5%, eyeing levels near $2,700 with the prospect of further gains.

Markets In Focus Today – BITCOIN​

Bitcoin Hits $50k Level For The First Time In More Than Two Years.​

Bitcoin price has nicked the $50,000 target, levels last tested on December 28, 2021.BTC could extend the gains to clear the $60,000 psychological level, last tested on November 21, 2021. Caution is advised as BTC is already massively overbought with the RSI reading well above 70. Bitcoin’s (BTC) price revisited the late 2021 highs on Monday, a move that passes as a milestone for the BTC community. It comes ahead of the halving event and therefore sates the pace for what could kickstart the next bull cycle in the cryptocurrency market.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 46876.0334 | Positive Crossover | Bullish
• MA 20 : 45232.4102 | Positive Crossover | Bullish
• MA 50 : 43508.5833 | Positive Crossover | Bullish

Simple :​

• MA 10 : 46083.1990 | Positive Crossover | Bullish
• MA 20 : 44257.4655 | Positive Crossover | Bullish
• MA 50 : 43566.6838 | Positive Crossover | Bullish

RSI (Relative Strength Index): 78.8759 | Buy Zone | Bullish

Stochastic Oscillator : 96.0546 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 47387.2295 R2 : 49860.6039
• S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 48931.72 | Take Profit: 50429.87 | Stop Loss: 48105.15

RIPPLE​

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