Overall Analysis

Oil turned highly volatile continuously on the 2nd trading session. Price action indicates an uptrend.
Natural Gas fell sharply, going -4% in a single day. High volatility and a tight zone continue.

Oil Chart Analysis

Oil/USD 15-Minute Chart (Source: TradingView)

On the 7th November 2024 trading session, oil can be seen highly volatile on the 2nd consecutive trading session, where the price went down near the supporting trendline and sharply reversed, breaking the 6th Nov day high of 72.63. Currently, the price is moving upwards in an uptrend channel but with high volatility.

On a daily time frame, the price is facing resistance from the 72.40 level, which has been a resistance for a long time. Closing the price above this level on the daily time frame will trigger a sharp rally towards the upside.

Looking at the price on a 15 min time frame, the price can be seen moving upwards in a channel, also creating an ascending triangle pattern. Oil is currently highly volatile, so traders should consider trading it only when it nears support or resistance levels.

There are multiple entry triggers one can follow for creating an entry.

Oil is currently testing its long-term support trendline. If the price fails to break it and creates a reversal candle, buyers can consider making an entry with a stop loss placed below the previous swing low and a target of 72.60.
If the price breaks the long-term supporting trendline and the candle successfully closes below the 70.66 level, then sellers may consider entering the trade with a stop loss placed above the previous swing high and a target of 60.86.
A selling side entry can be planned if the price creates a rejection zone between the 72.63 and 72.40 levels, with a stop loss placed above the previous swing high and a target till the supporting trendline.

Natural Gas Chart Analysis

Gas/USD 15-Minute Chart (Source: TradingView)

On the 7th November 2024 trading session, Natural Gas gave a sideways opening. It then continued moving upwards, reaching a high of 2.8540. However, it sold off sharply, dropping to the 2.7630 level and marking a -4% fall. Natural Gas is moving in a peanut pattern with high volatility in it.

On a daily time frame, Natural Gas has made a double bottom-like structure, but the price has taken a halt for the last 4 trading sessions, which is currently very far from the pattern’s neckline.

The peanut pattern is forming on a 15 min time frame, and the price is respecting the levels. High volatility can be seen in the instrument. Planning entry based on support and resistance is safe in the current market.

Entry Triggers:

If the price faces rejection from a descending resistance trendline, sellers may enter. They can set a stop loss above the previous swing highs and aim for a target at the supporting trendline.
If the price settles above the descending resistance trendline, buyers may plan an entry. They should place a stop loss below the previous swing low and set a target at the 2.879 and 2.9010 levels.

The post Oil and Natural Gas Analysis: High Volatility & Trends appeared first on FinanceBrokerage.

In Airbnb’s financial results for the third quarter, the company showed mixed performance as they slightly beat the expectations of the top line with a report of $3.73 billion.

It is a little more than the predicted $3.72 billion, but nevertheless, they were over the profit forecasts with a profit of only $2.13 per share which is just short of the predicted $2.14 per share. Though the income was encouraging, a 27.5% increase in sales and marketing expenses, totaling $514 million, impacted Airbnb’s profit.

Airbnb’s Global Expansion Drives Strong Booking Growth in Q3

The company appeared to be a good choice to boost bookings in those markets, according to Airbnb’s strategy. According to the company, the average growth rate of nights booked in new markets was twice higher than that in core markets, with the most evident growth in Asia-Pacific (19%) and Latin America (15%). Total nights and experiences have been increased by 8% to 122.8 million. This is a clear indication that international demand is the main driver of Airbnb stock for its growth.

The company’s gross booking value went up by 10% from last year to $20.1 billion, which is a clear indication of strong high demand for the product. Airbnb made a forecast of revenue between $2.39 billion and $2.44 billion for the fourth quarter, which has a probable increase of 8-10% from last year. Moreover, the average daily rate (ADR) increased by 1% year-over-year, bringing the ADR to $164, and more growth should come in the fourth quarter.

Airbnb stock maintained a constant implied take rate of around 18.6%, balancing revenue gains from cross-currency service fees with the cost of customer service investments. Despite the assurance of the addition of shares by 4% in after-hours trading, the company’s moto of international growth investments may come to fruition in the long run.

Airbnb Stock Chart Analysis

ABNB/USD 15-Minute Chart

The chart seen above is a 15-minute chart of Airbnb Inc. (ABNB) stock. ABNB has shown a consistently climbing trend recently, and it just recently broke the resistance at $148. Right after that, it went to the upside slightly and to a level at $147.39. It could be the new obstacle now if the price approaches this level again because, despite breaching the resistance, a build-up happened: $148.21 would be the new one. The price was at its pick of the day but then changed the course due to profit-taking or selling pressure.

The Relative Strength Index measures 67.10, nearing the overbought level of 70. This indicates the stock is not yet overbought but is close to reaching that condition. The RSI on the uptrend over 70 could lead to the buyers going down and the stock resting or even reversing for a while.

The level of support, the cost might be around $144, where it came to a pause before a breakout. If the stock succeeds in staying above this level, it is likely to gain more interest from the buyers, therefore making a bullish push possible. On the other hand, if it falls below this level of support, a greater correction could subsequently ensue, possibly going as low as $140 or even $138.

On the whole, traders should consider the RSI and recent peaks when evaluating new entries, even though the short-run inclination remains positive.

The post Airbnb Stock Q3 Revenue Beats Forecasts, Shares Drop 4% appeared first on FinanceBrokerage.

Overall Analysis

Bitcoin continues to move within a sideways zone, showing strength on the upside. The previous swing is only 300 points away from its all-time high.
Ethereum is slowly rallying upward, with high volatility evident in its price movement.

Bitcoin Chart Analysis

BTC/USD 15-Minute Chart (Source: TradingView)

On the October 30, 2024 trading session, Bitcoin is moving within a sideways zone. On a higher time frame, the price is pausing near its all-time high, indicating potential accumulation for an upward move.

This is a critical level, with resistance at 72,907 and support at 71,449. Entering at this point can be risky due to the low market momentum.

Risk-tolerant traders may consider a buying entry if the price breaks above 72,907, targeting 73,808, with a stop loss below the recent swing low. Conversely, if the price breaks below 71,449 and closes under this level, sellers could enter, aiming for a target of 70,494, with a stop loss above the recent swing high.

Currently, Bitcoin’s movements are not highly rewarding, so only high-risk traders are advised to trade.

Ethereum Chart Analysis

ETH/USD 15-Minute Chart (Source: TradingView)

On the October 30, 2024 trading session, Ethereum showed upward momentum initially, but in the second half, the price was rejected from higher levels, closing near the day’s opening.

The price is currently experiencing high volatility, moving within a channel, and this market is recommended exclusively for high-risk traders, as minor profit-taking is occurring.

If you’re planning an entry, buyers might consider entering once the price finds support at the trendline and closes above it. Consequently, the target could be set at 2721, with a stop loss placed below the recent swing low.

A selling opportunity may arise if the price breaks below the 2599 level, though an immediate drop might not occur.

Final Thoughts

Both Bitcoin and Ethereum are navigating critical levels, with Bitcoin showing strength near its all-time high and Ethereum moving upward with significant volatility. Bitcoin’s sideways movement, coupled with low market momentum, makes it a more cautious trading environment. It is suitable mainly for high-risk traders who are prepared for potential swings at key resistance and support levels.

Similarly, Ethereum’s volatile channel suggests a limited immediate reward. Entry opportunities may emerge if the price confirms support at the trendline or experiences a decisive breakout.

Overall, high-risk traders should stay alert to price movements near these key levels. Conservative traders, on the other hand, may prefer to wait for clearer momentum before committing to any positions.

The post Bitcoin Near All-Time High, Ethereum Shows Slow Uptrend  appeared first on FinanceBrokerage.

Overall Analysis

Gold has reached an all-time high and is holding at that level. The price is forming an ascending triangle, indicating a potential upward move.
Silver fell sharply during Wednesday’s trading session, and lower levels may be retested. High volatility and a lack of structure make it challenging for traders.

Gold Chart Analysis 

Gold/USD 15-Minute Chart (Source: TradingView)

During the trading session on October 30, 2024, gold reached a new all-time high of $2,790 and continued to hover around this level.

Currently, the price is forming an ascending triangle pattern, and a breakout could trigger significant buying in gold.

Traders can consider three conditions for trading gold now that the price has already risen.

Traders can trigger a buying position if the price breaks out of the ascending triangle and closes above the $2,789.855 level, targeting $2,811 on a trailing basis, with a stop loss set below the previous swing low.
If the price moves back into the ascending trendline channel, consider entering a buying position with a target of $2,789.855 and a stop loss below the previous swing low.
In this scenario, a selling position may be triggered if the price breaks below $2,770.925, which acts as the neckline for a double-top formation. A selling position can be taken if the price closes below this level, with targets of $2,760.885 and $2,747, and a stop loss above the previous swing high.

Silver Chart Analysis 

Silver/USD 15-Minute Chart (Source: TradingView)

During the trading session on October 30, 2024, silver continued its move toward a declining trend. On a higher time frame, the price appears to be moving in a ‘peanut’ pattern.

Looking at the chart, we can see that the price faced rejection at the 34.542 level and moved down to test the 33.400 level. The price is forming a lower high, lower low pattern, indicating strength in the downtrend.

If considering an entry, the price is currently finding support from the trendline and facing resistance from another trendline. If the price holds support and breaks the resistance trendline, traders may trigger a buying entry with targets of 34.00 and 34.2 and a stop loss below the previous swing low.

Please note that silver is experiencing high volatility. It’s advisable to avoid trades until the price shows a more positive behavior.

The post Gold & Silver Volatility: A Strategic Analysis for Traders appeared first on FinanceBrokerage.

Starbucks (SBUX) stock reported poorer-than-expected preliminary fourth-quarter results, thereby showing a revenue decrease of 3% year over year to $9.1 billion and a drop of 24% in the adjusted earnings per share, now standing at $0.80.

Investors’ swift response in the form of a more than 5% fall in premarket trading on Wednesday was caused by the weak numbers and the announcement of Starbucks’ fiscal 2025 guidance suspension as it transitions to former Chipotle (CMG) CEO Brian Niccol.

US same-store stores reported a 6% decrease in sales for the quarter, which is a clear change for Starbucks. A 10% fall in foot traffic and a 4% increase in average ticket size was the indication of the company’s problem in keeping the number of customers.

A recent in-app promotion, which includes its pairing menu giving discounts on coffee and breakfast items, failed to improve the customer engagement level, the company claimed.

Starbucks Reports 14% Sales Drop in China

China, the main driver of the growth of the Starbucks brand, was experiencing a very sharp setback. Same-store sales tumbled by 14% through a 6% retrenchment in visitor numbers and a deflation of 8% in ticket size. Starbucks shared the fact that the poor performance was due to a twofold cause: a “soft macro environment” and competition, thus, reinforcing the barriers to international operations.

Even though there was a quarterly downturn, Starbucks stock had risen 3% year to date and had increased 10% in the last six months, mainly due to the optimism linked to Niccol’s arrival. As the official fourth-quarter and full-year results should release after the market close on October 30, investors will look for any signs of a possible comeback strategy from the new leadership.

Starbucks Stock Chart Analysis

SBUX/USD 15-Minute Chart

Starbucks Corporation (SBUX), through the 15-minute chart, we could see that this stock is moving in the zone of tight range with a certain degree of volatility but without any clear direction. On October 31, the price of Starbucks is $97.35, which saw a very small gain of 0.07%. Recently, the stock has tested resistance around $99, while the support area is found at $93.69.

The sideways move shows that the market participants are still indecisive, with neither the bulls nor the bears being totally in control.

RSI Signals Limited Momentum, Key Levels in Focus

The Relative Strength Index (RSI) now stands at 45.66, which means its position is neutral, with a slight bearish bias. The RSI has stayed below the 50 threshold, without crossing extreme levels, indicating limited momentum. This aligns with the orderly price movement we’ve observed, as the RSI has remained balanced between the 30 and 70 limits without any prolonged overbought or oversold conditions.

In the near term, we can anticipate Starbucks to remain moving in this range, with potential resistance around $98 to $99 and support stabilizing near $93.69.

If the price significantly pushes past the $99 mark, it may pave the way for further gains, while if it falls beneath $93.69, it is a potential indication of a possible longer. However, right now, one should observe volume as a probable earlier signal for a breakout either way.

Is Starbucks finally going to come out of its vicious cycle and become top-notch again? Keep a close eye on the $99 level as well as the $93.69 level. A move in either direction could be the game-changer. Follow us for more updates.

The post Starbucks (SBUX) Q4 Shock: Stock Revenue Drops 3% appeared first on FinanceBrokerage.

Overall Analysis

EUR/USD is moving upward, forming an ascending channel. The price may face strong resistance around the 1.08703 level.
EUR/GBP is in a downtrend on the higher time frame, with the price encountering resistance near the 0.83825 level.

EUR/USD Chart Analysis 

EUR/USD 15-Minute Chart (Source: TradingView)

On October 30, 2024, the price moved upward within a channel-like structure, showing high volatility. In the first half, the price rose sharply, briefly dropped below the day’s low, and eventually reached a new day high.

Currently, the price is facing resistance at the 1.08703 level. If it breaks and closes above this level, an entry can be considered, targeting 1.08979 with a stop loss below the recent swing low.

If the price breaks the support level and closes below 1.08448, sellers may take positions targeting 1.08080, with a stop loss above the previous swing high.

Please note that due to high volatility, only high-risk traders are advised to enter the market.

EUR/GBP Chart Analysis 

EUR/GBP 15-Minute Chart (Source: TradingView)

On the trading session of October 30, 2024, the price initially moved upwards and remained stable, but in the second half, it showed a strong dip, correcting more than 50% from the day’s high before reversing from the lows and making a new high.

The price is in a selling trend on the higher time frame, which leads to sharp selling when the market attempts to break this trend.

If planning an entry, note that the price is currently within a channel between 0.83448 and 0.83861. It sharply fell from the day’s high and retested the 0.83526 level. Given the sharp decline from the high, traders can consider a reversal buying trade if the price rejects this level, targeting 0.83861 and setting a stop loss below the previous swing low.

Final Thoughts

In conclusion, both EUR/USD and EUR/GBP present critical points for traders, with EUR/USD facing key resistance at 1.08703 in an ascending channel and EUR/GBP maintaining a downtrend near resistance at 0.83825.

For EUR/USD, a confirmed breakout or breakdown could offer entry signals for high-risk traders. Meanwhile, EUR/GBP’s channel structure provides a potential buying opportunity if it rejects the 0.83526 level. Given the current volatility, careful risk management and adherence to stop-loss levels are essential in both scenarios.

The post EUR/USD & EUR/GBP Analysis: High Volatility with Trends appeared first on FinanceBrokerage.

S&P 500 and Stock futures dropped on October 31, when investors digested not-so-good results of the tech corporations and, on the other hand, looked forward to reports from Apple and Amazon.

S&P 500 futures fell by 0.5%, with the Nasdaq 100 and Dow Jones futures equally falling by 0.6% one day subsequent to the U.S. CPI year changes that rose 8.3% compared to the previous year.

Meta Platforms’ premarket performance contributed to the cautious sentiment. Shares fell 3% as the company missed its user growth goals. Additionally, Meta announced that capital expenses will rise sharply in 2025, which contrasts with its strong third-quarter earnings.

Microsoft’s revenue projections did not attract investors, leading to a 4% fall in its stock price in premarket trading, as Wall Street altered its growth expectations in the light of the company’s muted outlook.

Wall Street Awaits Key Tech Earnings from Apple and Amazon

On the economic side, the latest personal consumption expenditures (PCE) price index was released. This index, a key inflation indicator for the Federal Reserve, showed that inflation increased as expected, nearing the Fed’s 2% target. This data suggests that inflation may be easing. However, investors remain cautious. They are wary of how both sluggish corporate earnings growth and inflation could impact overall market sentiment.

On October 30, the major stock indexes showed slight declines; the S&P 500 slipped by 0.3%, the Dow decreased by 0.2%, and the Nasdaq Composite declined by 0.6%. As far as Wall Street is concerned, investor attention has been shifted to the results of Apple and Amazon, particularly as to the viability of the development of the tech sector amidst a deteriorating economic environment. Most likely, these companies’ announcements will be the turning point of the earnings season.

S&P 500 Index Technical Analysis

S&P500/USD 15-Minute Chart (Source: TradingView)

Today, the S&P 500 index is experiencing slight pressure. The price stands at 5,813.66, the same percentage down as before. Over the past week, the index reached a high of 5,878.46. Since then, it has been gradually declining, forming lower highs and lower lows. Thus, the probable conclusion is that momentum is slowing down, and a cautious sentiment is setting in.

Key Support at 5,762.41 in Focus as Short-Term Bearish Trend Prevails

The Relative Strength Index (RSI) of the S&P 500 stock currently stands at 32.12, which is pretty much near the oversold territory. However, the RSI is trending downward. The 15-minute chart also shows a series of uninterrupted red candles. This indicates that, for now, the short-term bears are in control and are overpowering the bulls.

Monitoring the nearest support level of 5,762.41 is a must. When a state of steadiness emerges among traders and the RSI begins to trend upwards, it may boost buyers’ confidence. This upward movement could indicate a short-term buying opportunity.

In the short term, we are likely to see a cautious style of trading. This is displayed by range-bound situations in the market as investors monitor external factors, such as upcoming economic data and macroeconomic news. A breakthrough above the recent high of 5,840 could signal a revitalisation of buying interest in this stock.

In case you are already holding positions, look at the resistance line at around 5,840 and be extra cautious about it as breaking above it may indicate a comeback to the bullish trend. Be aware of the most recent economic data releases, as they are a major driver of market psychology.

The post S&P 500 Slide 0.48% as Wall Street Weighs Tech Earnings appeared first on FinanceBrokerage.

Overall Analysis

Oil continues its momentum towards downside with swing creation indicating selling opportunities. 
Natural Gas trying to break selling trend, but 0.5 feb retracement gives strong reject. 

Oil Chart Analysis

Oil/USD 15-Minute Chart (Source: TradingView)

On the 29th Oct 2024 oil price showed high volatile behavior, price is currently following a channel based moment. Where price can be seen rejecting the resistance trendline, overall the market is in the selling zone. 

Currently if we look at the price which is taking a trendline support to move upwards, in this strong build up can be seen, breaking of resistance trendline will not instantly trigger buy position. 

If we look at the historic data, when price takes rejection from resistance trendline it falls sharply towards supporting trendline. 

For a potential entry, one should plan to hold the trade long-term. If the price rejects the resistance trendline, consider a selling entry with a target at the support trendline and a stop loss set at the 68.42 level.

Natural Gas Chart Analysis 

Gas/USD 15-Minute Chart (Source: TradingView)

On 29th Oct 2024  price showed a volatile behavior, where after opening price showed a selling behavior and broke previous day low, creating a double bottom pattern. On the same the price went up and broke the patterns neckline and achieved target but with high volatility. 

As we can see natural gas faced huge selling on 28th Oct 2024 and when price went up to respect the double bottom pattern, 0.5 level of Fib retracement gave healthy rejection taking the price in sideways direction. 

If planning for an entry than there are few setup which one can follow to create position. Please note due to high volatility one be trap of stop loss hunting 

If prices successfully breaks fib retracement 0.5 level, than wait for price to break 2.9512 level and close above it for the target of 3.0020 with the stop loss of 2.2915
If price breaks the golden ration of 0.6 and falls than wait for price to break 2.8740 level and make position ones price closes below the level for the targets of 2.8470 and 2.8150 with stop loss of 2.9030

The post Oil & Gas Trends: Resistance Rejections & Trade Setups appeared first on FinanceBrokerage.

Overall Analysis

The Australian Dollar/US Dollar has currently in a selling trend for a long, following a channel-based moment. 
The Australian Dollar/New Zealand Dollar is also under selling pressure and is currently on a sensitive level.

AUD/USD Chart Analysis 

AUD/USD 15-Minute Chart (Source: TradingView)

On the 29th Oct 2024 price continues following the selling trend, respecting both the support and resistance area as marked on the chart.

Trading opportunity triggers best when prices go in a channel. You can plan multiple safe entries with a small stop loss in such a situation, while the RSI supports the trend. Whenever the price goes near the 64 RSI level, chart prices take rejection from the resistance trendline.

If talking about the selling entry trigger in the current situation, then we can see currently, RSI and chart are following historic data. Entry can be planned in two ways.

If the price returns to the resistance area and rejects it, you can open a selling position targeting 0.65770, 0.65114, or the supporting trendline, with a stop loss set at 0.65818.
The second entry can be a bit risky but can result in high returns. Using the trailing stop loss method is very important. If the price doesn’t touch the resistance area and drops below the 0.65370 level, then plan an entry targeting 0.65114 or the supporting trendline. Please note: if price successfully breaks the supporting trendline and crosses the 0.65114 level, then huge selling might trigger.

AUD/NZD Chart Analysis 

AUD/NZD 15-Minute Chart (Source: TradingView)

On 29th Oct 2024, prices moved sideways, following the resistance trendline while taking support from the supporting trendline.

On 30th Oct 2024 current market condition, we can see price has broken the supporting trendline and a major level of 1.09794, which is a major support level. 

You can open a selling position at the current level since prices have successfully broken the 1.09746 level and continue moving downwards. Safe traders can make an entry when the price again takes rejection from the 1.0962 level for the targets of 1.90613 and 1.09379, with 1.09871 as the target. 

The post AUD/USD and AUD/NZD Analysis: Key Levels to Watch appeared first on FinanceBrokerage.

Overall Analysis

Bitcoin continues making higher highs and higher lows on the 29th Oct trading session, missing all-time highs just by 400 points. 
Ethereum continues its rally towards the upside, price took a pause from higher levels and closed sideways. 

Bitcoin Chart Analysis

BTC/USD 15-Minute Chart (Source: TradingView)

On the 29th Oct 2024 trading session, Bitcoin broke out of all resistance and showed a huge rally towards the upside. The crypto king missed reaching an all-time high of just roughly 350 points. 

Bitcoin kept on taking trendline support for a long time keeping its trend strong and intact. On the 30th Oct trading session price broke the trendline and went on sideways momentum. 

RSI also indicated the same sideways story. Currently, this level can contribute to the creation of multiple things like a sideways market, rejection from a higher level and price moving towards an all-time high, as this is a FOMO zone.

Looking deep into the chart for the opportunity, we have a few prepared for you. 

If price again enters the supporting upside trendline, then wait for swing creation and let price come and retest the trendline. Make an entry with stop loss below trendline and targets based on trailing, as market is near all-time high.
If price breaks $71,883 level and closes below it, then entry can be planned for the targets of $70,811 and $69,704 with stop loss of $72,585.
If price breaks previous day’s high of $73,624 and faces rejection, then wait for the price to break $71,883 level, which will trigger double top pattern. Enter the trade with the target and stop loss mentioned in the second point.

Ethereum Chart Analysis

ETH/USD 15-Minute Chart (Source: TradingView)

On 29th Oct 2024 trading session Ethereum gave an upside momentum, continuing its previous four days bull run rally.

Price did give an upside momentum initially but took a pause in an area for several hours. The halt zone indicated strength for the buying position, where buyers kept the price stable on the higher side.

Looking at the chart for an entry, we can see that the price there is a double bottom pattern formation. Buyers can plan an entry in two ways, and sellers can plan one entry.

Buyer:

If the price breaks $2,648 level and closes above it, then entry can be made for the targets of $2,682 and $2,712 with $2,625 as stop loss.
This can be a risky trade. If price breaks $2,682 level and settles above it, wait for the price to retest the level and make an entry for targets of $2,712 and $2,740 with $2,663 as stop loss.

Seller:

If price breaks previous day’s high and rejects from $2,680, then wait for the price to break $2,599 level and settle below it, as this will trigger double top formation. Make a seller-side entry for the targets of $2,560 and $2,494 with $2,635 as stop loss. Price will fall quickly due to rejection from the higher side on a higher time frame.

The post Bitcoin and Ethereum: Analysing the Market’s Next Move appeared first on FinanceBrokerage.