Bitcoin and Gold: Potential Drop Ahead?
Bitcoin keeps moving along the broken neckline of the inverted head and shoulders pattern. Currently, the asset is testing the supporting level of 19000. Bitcoin is likely to undergo correction soon. Of course, it can also slightly drop and gain the required support at the level of 18000.
Gold has pulled from the supporting level of 1785 and closed above the level of 1800. In this case, gold might jump, targeting the downtrend, although it is noteworthy that gold might potentially break the downtrend and head up.
Oil is undergoing a correction and heading down. It is likely to drop to the level of 100 next week, and then only jump.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 72% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Futures and Options: Trading futures and options on margin carries a high degree of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.