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HPE Hewlett Packard Enterprise Company Options Ahead of EarningsIf you haven`t sold HPE before the previous earnings: Now analyzing the options chain and the chart patterns of HPE Hewlett Packard Enterprise Company prior to the earnings report this week, I would consider purchasing the 19usd strike price Calls with an expiration date of 2024-9-6, for a premium of approximately $1.07. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NYSE:HPELong
by TopgOptions
XAUUSD : Gold is rotating above the old peakWorld gold is fluctuating around 2,363 USD/oz. World gold prices "evaporated" in the context of technology stocks in the US rising sharply. Accordingly, investors focus their capital on stocks, causing cash flow into this precious metal to be limited, causing a disadvantage for gold prices today. On the other hand, after the gold price increased sharply to 2,391 USD/oz, many investors quickly took profits, especially in May and June 2024, China had 2 consecutive months of not buying gold. This week, the market's attention will be focused on Fed Chairman Jerome Powell's statement in testimony before Congress and US inflation data scheduled for release on July 11.
OANDA:XAUUSD
by SantaTradeGold
GOLD : Gold will be strong and have new peaksGold prices have soared this year - hitting a record in May - due to central bank purchases, while policymakers in countries including India, China and Singapore is looking to diversify its reserves. The precious metal is also supported by geopolitical tensions and bets that the US Federal Reserve will start cutting interest rates as inflation cools. Christopher Wong, strategist at Oversea-Chinese Banking, said "the possibility of gold prices falling should not be ruled out" following the PBOC data. "But it is not unusual for China to temporarily stop buying gold, because gold prices have increased quite sharply." According to data released on Sunday, the amount of gold bullion held by the PBOC was unchanged at 72.8 million troy ounces at the end of last month. The PBOC decided not to add to reserves in May, ending an 18-month net purchase. According to Krishan Gopaul, an analyst at the World Gold Council (WGC), the Reserve Bank of India added more than 9 tons of gold in June, based on weekly data. This is the highest figure since July 2022 and it shows that India's gold reserves have increased by 37 tonnes to 841 tonnes this year. Gold prices fell 0.3% to 2,385.55 USD/ounce at 10:40 a.m. in Singapore. The DXY index remained unchanged. Silver prices held above $31 an ounce after rising more than 7% last week, while palladium and platinum fell. According to Charu Chanana, a strategist at Saxo Capital Markets in Singapore, it is possible that rising gold prices have prevented the PBOC from buying. However, she said gold could still rally further amid growing expectations of the Fed's monetary easing policy this year, as well as ongoing geopolitical risks.
TVC:GOLD
by SantaTradeGold
RIVN Rivian Automotive Options Ahead of EarningsIf you haven`t sold RIVN when they started to recall vehicles due to loose fasteners: Then analyzing the options chain and the chart patterns of RIVN Rivian Automotive prior to the earnings report this week, I would consider purchasing the 10usd strike price Calls with an expiration date of 2025-1-17, for a premium of approximately $3.05. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NASDAQ:RIVNLong
by TopgOptions
2
Bitcoin's Potential Double Top: A Critical Technical AnalysisBitcoin has been experiencing notable volatility in recent months. On a weekly timeframe, technical analysis reveals a concerning double top pattern, which could indicate a significant retracement is on the horizon. This article delves into the implications of this pattern, the potential retracement levels, and the broader market factors influencing Bitcoin's price movements. Double Top Pattern and Implications: The double top is a bearish reversal pattern that typically signifies a potential downtrend following an uptrend. In Bitcoin's case, the first peak was around $73,000, followed by a recent high that failed to break through this level, forming the second top. The formation of this pattern suggests that Bitcoin might struggle to maintain its current levels and could face a significant decline. Key Support Levels and Fibonacci Retracement: Given the double top pattern, Bitcoin might retrace to its 50-day moving average, which aligns closely with the $47,000 support level. This level also corresponds to the 0.5 - 0.618 Fibonacci retracement, a critical area often considered a strong support in technical analysis. The confluence of these indicators suggests that $47,000 could serve as a robust floor for Bitcoin if the bearish pattern plays out. Market Catalysts: Mt. Gox and German Bitcoin Sales: The recent selloff from the $73,000 peak can be attributed to two significant market events. First, the Mt. Gox exchange has started repaying its creditors, many of whom are expected to liquidate their holdings for a profit. Mt. Gox has reportedly moved about 47,000 BTC for sale this month, flooding the market with additional supply. Second, Germany has moved approximately 6,000 BTC for sale, further exacerbating the selling pressure. These large-scale sales have undoubtedly influenced Bitcoin's recent price decline, contributing to the bearish sentiment currently prevailing in the market. Long-term Outlook: Bitcoin's Potential for Recovery: Despite the short-term bearish indicators, the long-term outlook for Bitcoin remains optimistic among many analysts. The fundamental factors driving Bitcoin's value—such as increasing institutional adoption, limited supply, and growing recognition as a hedge against inflation—suggest that the cryptocurrency could recover and reach new heights. By the end of the year, there is a plausible scenario where Bitcoin could surge to $80,000. This bullish projection hinges on several factors, including a stabilization of the current selloff, renewed investor confidence, and continued positive developments in the broader cryptocurrency ecosystem.
by TopgOptions
GOLD : Gold will break out strongly in the futureGold prices increased slightly on Monday (July 1), with the market's focus shifting to US jobs data scheduled for release later this week, which could provide more signals about the The US Federal Reserve (Fed) lowered interest rates. At the end of the trading session on July 1, the spot gold contract increased 0.2% to 2,329.79 USD/oz. Gold prices jumped more than 4% in the second quarter of 2024. “We are seeing some short-covering activity by short futures traders and bargain hunters in the money markets,” said Jim Wyckoff, Senior Market Analyst at Kitco Metals. face. The market is also being supported by rising oil prices and a weakening USD." U.S. manufacturing activity fell for a third straight month in June and a measure of the prices factories pay for inputs fell to a six-month low amid weak demand for goods. see inflation may continue to decline. This week, the market will focus on Fed Chairman Jerome Powell's comments on July 2, followed by the minutes of the central bank's latest policy meeting on July 3 and the U.S. jobs report. America on July 5. Data last week showed US inflation was unchanged in May, while consumer spending rose moderately. The market predicts a 64% probability that the Fed will lower interest rates in September as well as another interest rate cut in December 2024.
TVC:GOLD
by SantaTradeGold
SPY S&P 500 ETF revised Price Target for the end of the yearIf you didn't purchase SPY at the start of this year: I initially set a price target of $540 at the beginning of this year, but upon reflection, I find that projection to have been overly cautious. I am now adjusting my forecast upward to $560. This revision stems from my belief that we are entering a significant supercycle in the stock market, particularly fueled by advancements in artificial intelligence technologies. The current market conditions may prompt a temporary pullback due to levels of overbought assets. However, my overall outlook remains extremely optimistic about the broader market trajectory. I see continued strength and potential for growth, especially driven by the ongoing innovations and developments within the AI sector. As investors navigate through potential short-term fluctuations, I maintain a bullish stance, anticipating robust performance and opportunities in the market as we progress through the year.
AMEX:SPYLong
by TopgOptions
12