03/22 Market report

【Dow Jones.】

Where did the overall U.S. bond money go from being sold for ten consecutive weeks and last week by $14.853 billion？

From the perspective of the market, the recent Dow Jones Index has continued to rise and there were signs that some funds have been transferred to more profitable commodities. In the face of the unstable markets, investors have also begun to feel that holding cash is also a good choice.

At this stage, the Alligator has begun to tangle and this shows that the direction of the long-term trend is no longer the trend of the short term. The KD index is at a high-end figure and this shows that the short-term buying force is strong. In terms of the stock market, it has also absorbed a lot of the bond money and there looks to be a support below.

USA30-D1

Resistance point 1: 35000 / Resistance point 2: 35500 / Resistance point 3: 35800

Support point 1: 34000 / support point 2: 33500 / support point 3: 33200

【Bitcoin】

According to recent reports, Honduras launched the first Bitcoin and Ethereum ATMs.

Coupled with the president's statement that El Salvador should not be the only country to “escape the hegemony of the US dollar”, the market believes that Honduras is likely to be the next country to officially recognize Bitcoin as legal tender.

In terms of Bitcoin's daily chart, Alligator has moved into a tangled situation due to the continuous price consolidation. KD has dropped from a high-end figure to a death cross and this shows that the Bitcoin is gradually being sold. However, it is still recommended not to sell when there is no obvious breakthrough in the consolidation range.

BTCUSD-D1

Resistance point 1: 41200 / Resistance point 2: 41800 / Resistance point 3: 52000

Support point 1: 40500 / support point 2: 40000 / support point 3: 39500

【Gold】

The world's largest gold-backed ETF SPDR Gold Shares (GLD), increased its gold holdings by 9 tonnes on 18 March to 1,082.44 tonnes.

Nicky Shiels, the head of metal strategy at MKS PAMP Group (A Swiss gold minting company), reported that the Russo-Ukrainian war will cause turmoil in the global situation. It is difficult to achieve a complete solution to the situation between the two countries in the short term and this could make the outlook for gold prices this year somewhat expected.

In the daily chart of gold, it can be seen that gold is currently in a consolidated state. After a few days of volatility, Alligator began to turn into a golden cross again. The KD is also a golden cross, showing that people still buy gold and it is still used a lot in investments during the period.

XAUUSD-D1

Resistance point 1: 1935.00 / Resistance point 2: 1950.00 / Resistance point 3: 1980.00

Support point 1: 1910.00 / support point 2: 1900.00 / support point 3: 1890.00

【Crude oil】

Oil-producing Saudi Arabia warned that attacks by Yemeni rebels on Saudi oil facilities would pose a “direct threat” to global oil supplies and leading to soaring oil prices. This news, coupled with the recent debate in the European Union (EU) over whether to ban the import of Russian crude oil, has also led the market to believe that the price of crude oil may rise again.

From the perspective of the technical line of crude oil, Alligator is currently tangled while the KD shows a high-end figure. With Crude oil prices falling in the previous few weeks, if the trend is to be reversed, it is still necessary to go through a period of consolidation.

USOIL-D1

Resistance point 1: 113.800 / Resistance point 2: 118.500

Support point 1: 98.800 / support point 2: 95.500 / support point 3: 93.800

OnePro Special Analyst

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