[Market Commentary] Gold plunges to the $1,770 level, digital asset TITAN suffers a -100% loss
Contributed Friday, June 18, 2021⇒ This article expires on June 20 at 13:00.
■ The biggest concerns in financial markets are inflation in the US/Europe and whether tapering will be advanced!?
■ The biggest concerns in the crypto industry are US-China regulations
Gold plummeted. The $1,770 range is the level from early May. Silver, platinum, and other precious metals also dropped by about 3% to 4%, and palladium fell as much as 9.8% from the previous day. The US 10-year yield was 1.51%.
Crude oil declined about 1% and is now in the $70s. The dollar index is rising, but the yen is strengthening even more, and the euro has fallen by about 1%. Oceania currencies are weak. Natural gas has rebounded, but among grains, corn fell significantly.
The major decline in these commodities is partly due to regulatory moves by Chinese authorities and China's announcement of plans to release reserves of key metals like copper and aluminum to curb price rises.
[Source] Trading View Chicago corn futures daily chart
Crypto markets are weak. DeFi-related TITAN dropped 100%, causing many traders to lose funds. TITAN-related IRON also collapsed. Due to these losses, most crypto assets now face heavy resistance to gains. Bitcoin is in the $37,000 range.
【Traded-worthy assets】
DAX, Nasdaq-100
NY crude oil, natural gas
Bitcoin, Ethereum
Soybeans
【What you should know about market commentary】
・Market analysis focused on professional traders
・Overview of financial markets and positioning of crypto assets
The content provided consists of these two points, with the following considerations.
You must think this through yourself.
① Is the materialtransitoryor
② Does the price impactcontinueto persist
Uniqueness of this content: Providing an overview of the financial markets with crypto asset market commentary
Uniqueness refers to how this content differs from other market analyses or market conditions.
※ Traders can trade anything, so you may focus on hot and attractive assets, or ignore crypto assets if there is no appeal.
・It is sufficient to understand explanations after events occur. Predictive ability does not directly affect trading results
・You cannot explain the market movements happening right now
・Even if you do not understand the direction, you can still profit
・When analysts/strategy designers say “it will go up,” you can use pullbacks or consolidation phases
・First moves are solitary, but you should ride the big waves
