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Largecap

Fortescue Metals: as long as 18.17 is support look for 21.54Alternative scenario: the downside breakout of 18.17 would call for 17.2 and 16.29. My pivot point stands at 18.17. My preference: as long as 18.17 is support look for 21.54. Comment: The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 18.88 and 16.89). Trade Safe - Jimster45
ASX:FMGLong
by Jimster45
1
BTC v the S&P 500: Will Bitcoin crash, in relative terms?This chart shows bitcoin in USD versus the front-month continuous contract of the S&P 500 futures. As you can see, price is in a large, ascending wedge. A break to the downside is typical in such patterns. The green line marks where the fall might stop, approximately 70% lower that today. This would occur through a coinciding bull market in US large caps and decline in bitcoin over the next several years. However, if Bitcoin breaks the wrong way out of the wedge (to the upside), the rally will be quick and violent. Verdict: long SPX, short BTC is my verdict, though there will doubtless be juicy crypto bear-market rallies, and you could have serious crypto FOMO if the breakout occurs to the upside.
BITSTAMP:BTCUSDShort
by decaro