[Market Commentary] The crude oil uptrend continues. Natural gas breakout is clearly visible, Binance banned in the UK
Contributed on Monday, June 28, 2021⇒ This article expires on June 30 at 13:00.
■ The greatest concerns in traditional financial markets are Western inflation and tapering (rate hikes in 2023?).
■ The biggest concerns in the cryptocurrency industry include China’s mining regulations.
The U.S. 10-year Treasury yield recovered to 1.53%. In the U.S. and Europe, stock movements are subdued. Crude oil has risen to the $74 level, continuing the uptrend since late May. Natural gas has broken out clearly, reaching a recent high—the highest since the end of 2018.
Hong Kong’s Hang Seng Index has gradually risen, and India’s Nifty50 is again aiming for high levels. Note: the Hong Kong market closes in the morning due to weather. The VIX fear index remains at a low level around 15.62. Grains have deteriorated, with soybeans and wheat showing downside risk.
[Source] Chicago soybean futures daily chart
The currencies, including the euro and pound, are not performing well. This Friday, the U.S. employment report is scheduled to be released, drawing attention.
The cryptocurrency market briefly collapsed over the weekend after reports that the UK Financial Conduct Authority would ban Binance in the UK, but Bitcoin rebounded to the $34,000 range, and other cryptocurrencies are regaining value. Bitcoin’s dominance rate is at 47, gradually increasing. Note that Binance has received two additional warnings, on top of the March 2018 warning from Japan’s Financial Services Agency.
【Stocks with trading charm】
NY crude oil
Soybeans
British Pound
【What you should know about this market commentary】
・Market analysis focused on professional traders
・Positioning of cryptocurrencies from a macro market perspective
The content is limited to these two points, and please consider the following.
This is something you must think about yourself.
① Is the stimulustransientor not
② Does the impact on priceslastor not
Difference of this content: explaining the crypto market from a broad view of financial markets
Difference refers to how this content differs from other market explanations or market overviews.
※ Traders can trade anything, so it’s fine to focus on hot and advantageous assets; if there’s no appeal in crypto assets, you may ignore it.
Trader mindset
・It’s enough to know explanations of events after they occur. Predictive ability does not directly translate to trading results.
・You cannot explain what is happening in the market right now
・Even without a clear direction, profits are possible
・When analysts/strategists say “it will rise,” you can use pullbacks or retracements
・Early moves are solitary, but you should ride the big wave
Traders can win even if they don’t know the market laws. This content differs in purpose from market commentary or market analysis reports that merely provide surface-level insights, but it is natural if it appears similar to common market overviews.
