US30 breaking out of flag pattern – short-term analysis 16 May 2022
Dow breaks out of short-term continuation pattern ahead of cash open.
Senior Market Specialist
Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.
Dow breaks out of short-term continuation pattern ahead of cash open.
This is the problem that policymakers currently face. Battle inflation or protect the unemployment rate. Usually, a policy is implemented without this catch 22. This difficulty is the exact problem of stagflation, which is an economic paradox. Unfortunately, policymakers are caught between a rock and a hard place and have tough choices.
Gold bulls support the price on the short-term pivot, but the longer-term trend may dominate.
Wheat prices are starting to move, which may add to stagflation worries.
The S&P 500 is rallying pre-cash open. However, key levels above suggest caution still needs to be exercised.
After this week's volatility, regulation of the crypto market is moving towards reality.
A perfect storm has hit the crypto market as it faces harsh headwinds.
Luna falls off a cliff, wiping over 95% of its value.
Given the recent tightening of policy, the rate adjustments and dollar support, bitcoin is facing headwinds.
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