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Daily Review for April 21, 2022

Netflix stock plummets in the market. Tesla outperforms traders’ expectations. The stock rises more than 4% in the aftermarket.

The war in Ukraine, the impact of rising commodity prices on inflation, are causing traders to keep gold in their portfolios. Traders are watching the statements of Jerome Powell as FED Chairman.

USA became the largest LNG exporter in the world. JP Morgan announced that the world needs investments of USD$1 trillion in order to generate less energy dependence.

The Bulls are looking for USD$50,000 in Bitcoin. The price has managed to climb to the resistance of USD$42,000. More buying volume from hedge funds is expected.

NASDAQ 100 -1.08%
The index of technology companies listed on the US stock exchange is currently correcting 1.08% and is trading at 14,057 points. Netflix did not exceed investors’ expectations, and its shares fell by 35.12%. This caused the fall in the index too. On the other hand, Tesla increased its sales by 81%, so purchases of the stock have generated an upward movement of 4.28% in the aftermarket. The shares are trading at USD$1.018.
Support 1: 13,963.7
Support 2: 13,928.8
Support 3: 13,875.0
Resistance 1: 14,052.4
Resistance 2: 14,106.2
Resistance 3: 14,141.1
Pivot Point: 14,017.5
The index is below the 200-day moving average. Expected trading range between 13,875.0 and 14,141.1. Pivot point for trend change at 14,017.5. Bulls are looking to hold the 14,000 level. RSI neutral so the index may correct some additional points, including up to support 1.

GOLD +0.04%
Metal prices are starting to trend sideways as traders take positions in anticipation of Jerome Powell’s statement as Fed Chairman. The war in Ukraine has created difficulties for global commodities trading, as Ukraine and Russia are major players in metals, agriculture and energy. These factors have created a continued inflationary effect, which could lead central banks to begin more aggressive monetary policy strategies.
Support 1: 1,955.54
Support 2: 1,950.97
Support 3: 1,948.49
Resistance 1: 1,962.59
Resistance 2: 1,965.07
Resistance 3: 1,969.64
Pivot Point: 1,958.02
The metal is at the same level of the 200-day moving average. Expected trading range between USD$1,948 and USD$1,969. Pivot point for trend change at USD$1,958. RSI neutral, so it could present continuity of the sideways trend until the volume of purchases or sales increases.

U.S. investment banks have declared losses of USD$15 billion worth of business in Russia. Investments in the natural gas industry have been one of the hardest hit. Meanwhile, the US has become the largest exporter of LNG globally. Meanwhile, JP Morgan energy analysts have announced that the world needs at least USD$1.3 trillion in investments to be able to withstand Russia’s lack of supply. At the moment the price of natural gas is falling 4.93% and is trading at USD$6.82 per BTU.
Support 1: 6.822
Support 2: 6.789
Support 3: 6.727
Resistance 1: 6.917
Resistance 2: 6.979
Resistance 3: 7.012
Pivot Point: 6.884
The price is at the same level of the 200-day moving average. Expected trading range between USD$6.72 and USD$7.01. Pivot point for trend change at USD$6.88. RSI near the oversold zone, which could generate buying volume above the current level.

BITCOIN +0.27%
The Bulls have started to gain ground and with it the price has managed to mark new resistance, this time at USD$42,000. The short-term target remains at USD$50,000. On the other hand, the flow of investments in Bitcoin has been generated by fears of economic recession for 2023, derived from the war in Ukraine, inflation and a restrictive monetary policy of central banks.
Support 1: 41,027.7
Support 2: 40,848.4
Support 3: 40,724.8
Resistance 1: 41,330.6
Resistance 2: 41,454.2
Resistance 3: 41,633.5
Pivot Point: 41,151.3
The price is above the 200-day moving average, which is a bullish signal for Bitcoin. The Ichimoku cloud projects a trading range between USD$40,724 and USD$41,633. Pivot point for trend change at USD$41,151. RSI neutral, so the uptrend could be maintained.

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