Forecast S&P-Oil-Crypto | close 10 JULY 2020

Forecast S&P-Oil-Crypto | 10 July 2020

S&P 500 Weekly Standard & Poor’s 500 Price Risk Analysis Forecast

(Previous week in brackets)

Standard & Poor 500 LT-M MT-W ST-D
3188 (3125)
Trend ↑ (↑) ↑ (↓) ↑ (↑)
% Risk
Weight
70 (70) 85 (84) 87 (74)
Allocation 0% (0%)


S&P showed a rather unusual narrow range last week of just 80 odd points edging 2% higher from the previous week close. Technically this index continues to look heavy and whilst the analysis we show is the correct approach to minimising alloction risk, one cannot be sure due to massive support from low interest rate based purchases. All time frames are in “ready to turn down” risk mode. No change, no allocation to the S&P index.

03 July: Strong S&P performance last week but staying in range for now.
Tools still look heavy and should trigger pressure in the index. As this asset class like most others are under complete central control anything is still possible. That is poor risk hence staying completely out of this market. If we do see new highs we basically face another series if bearish divergences which must not be ignored. This is a market for very high risk operators at the centre of exchange activity and with high speed access to all markets and their respective hedging instruments. I.e not for everyday folks playing the stock market as it inevitbaly leads to whipsaw trading on rapid market pivots. NO change


Brent Crude oil Weekly Brent Crude Oil Price Risk Analysis Forecast

(Previous week in brackets)

Brent LT-M MT-W ST-D
43.26 (42.78)
Trend ↑ (↑) ↑ (↑) ↑ (↑)
% Risk
Weight
38 (35) 92 (90) 78 (75)
Allocation 50% (50%)


Given the mild bearish divergence inside Daily time frame we could see a pause and slight price decline. This would enable the MT and LT time frames to get closer for another, possibly strong, price move upward into filling the March 45 handle opening gap and beyond. We stay long for now. No Change.

03 July: For some reason this Brent price shows technical strength and still awaiting the gap to be filled at 45.25. Right now this looks like a good target to exit, but a strong further rally to wards the mid 50’2 could still be on the cards with long term Monthly in a strong uptrend which only just started currently at 35 risk weight

BTC Bitcoin Price, Weekly Bitcoin Price Risk Analysis Forecast

(Previous week in brackets)

BITCOIN BTC/USD LT-M MT-W ST-D
9210 (9030)
Trend ↑ (↑) ↓ (↓) ↓ (↓)
% Risk
Weight
51 (50) 74 (78) 65 (25)
Allocation 0% (0%)


LT is in a weak uptrend but price too near upper resistance at 9600. MT and ST daily look weak.
No Change.

03 July: Very little price change and hardly any change in risk weight levels or trend direction. We still favor a old gap fill at the 2800 handle before this markets matures. No Change


Bitpanda Pro – BEST/EUR Token Price Risk Analysis

(Previous week in brackets)

Bitpanda – BEST/EUR LT-M MT-W ST-D
0.0773 (0.0820)
Trend Virtual (NA) ↓ (↓) ↓ (↑)
% Risk
Weight
75 (NA) 50 (65) 25 (72)
Allocation 100% (100%)

BEST token live price 24/7


Bitpanda needs to seek new introductions which can be traded in BEST tokens. We would expect some positive vibes in that direction. Both Daily and Weekly risk are moving down rapidly enough on a 4% decline this week to warrent a bottom relatively soon. That bottom could easily setup for another strong rally where short term risk builds bullish divergence vs LT Monthly which should virtually sit around the 75 level. This allocation represents a hedge against the unknown of much weaker future fiat currency behavior. Rather Gold, Silver and BEST than money in the bank. Hence staying fully invested.

03 July: Best Token improved slightly this week whilst the weekly risk weight ended 5 points lower with daily continuing is a shallow uptrend. Bitpanda’s strategy is very much based on proper research and slowly building a larger asset base of tradeable tokens plus Precious metals. This is a hold. No Change

Courtesy chart of the Binance coin in USD which started life in 2017 at 0.05.


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Posted in A - All Financial Blogs | 2020 Forecast, GLOBAL - S&P500 - OIL - CRYPTO | EYEFORGOLD.

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