Understanding Point & Figure Charts Part I of IV

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Bitcoin Predictions, Facebook Libra and Market Analysis: Key Points Covered in this Podcast:

- Why Bitcoin beats the crypto pretenders as the only viable store of value
- The pros and cons of Facebook Libra
- Swing trading tips and favored technical indicators
Tone Vays is a content creator, derivatives trader and consultant, specializing in Bitcoin and blockchain. He has worked on Wall Street for almost ten years, starting as a risk analyst at Bear Stearns and later becoming a vice president at JP Morgan Chase in the aftermath of the 2008 financial crisis.
In this edition of our podcast Trading Global Markets Decoded, our host Martin Essex talks to Tone about Bitcoin predictions, the good and bad of Facebook Libra, and his favored style for technical analysis.

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US equities back to record highs, but inflation concerns remain. FTSE eyeing EU-UK spat.

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Markets moved higher even after more bad inflation data.

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Rivian shares are down over 60% this year but analysts aren’t giving up on the stock just yet.

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BoE rate expectations remain aggressive. Looking ahead to next week, with little on the domestic front, the ebb and flow of risk appetite will dictate price action for the Pound. Meanwhile, upside is likely to persist for GBP/JPY heading into month-end.

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The recent rally in the price of oil appears to have stalled ahead of the record high ($147.27) as the rapid rise dampens the outlook for consumption. However, recent data prints coming out of the US suggest demand will remain robust in 2022 amid a downward trend in crude inventories.

Weekly Brent Crude Oil price is located above Ichimoku cloud in the bullish area of the chart. The bullish triangle pattern was formed with 133 resistance level, and if the price breaks this level so the bullish trend will be continuing. Alternatively, the weekly price will be on secondary ranging within the primary bullish trend.

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This could be attributed to a 7% y-o-y drop in the wealth & personal banking unit, followed by a 4% decline in global banking & markets. HSBC stock (NYSE: HSBC) is trading around the same level as at the start of 2022, whereas S&P500 has dropped 17% over the same period. Further, at the current price of $30 per share, it is 29% below its fair value of $42.

The weekly price broke 200 SMA to below for the primary bearish trend to be resumed. The price is trying to cross 55 SMA to below for the 27.86 support level as the nearest tarhet at 100 SMA to possible re-enter.

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The Australian Dollar has a very healthy economy behind it and the longer the currency stays undervalued, the stronger it gets. Will AUD/USD get a grip?
The RBA does two things very well. They do nothing when nothing is warranted, and they act decisively when action is needed. Action is needed here, and they are going for it. The free money party is over. Conditions need to be tightened and as a consequence, rates are going way north.

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