05/12 Market report

【Dow Jones】

The U.S. Bureau of Labor Statistics (BLS) said the consumer price index (CPI) rose 8.3 percent annually in April, which is slightly below the 40-year high of 8.5 percent in March and still higher than the market's estimate of 8.1 percent.

The BLS said rising inflation has pushed consumers to the brink and jeopardized U.S. economic expansion.

The Dow Jones Index price action has been in the decline for 5 consecutive days. Alligator shows a death cross, while the KD shows a low-end figure. This indicates that the bearish side strength is still maintaining a strong force.



Resistance point 1: 32800 / Resistance point 2: 33500 / Resistance point 3: 34200

Support point 1: 31500 / support point 2: 30800 / support point 3: 30200

【Crude Oil】

It is understood that the number of new confirmed cases of new coronavirus in China on Monday (9 May) reached 3426. It has fallen to a new low in six weeks and it slightly improved investors' concerns about sluggish demand for crude oil. In addition, although the US Energy Information Administration (EIA) pointed out that crude oil inventories increased unexpectedly last week, gasoline and distillate inventories decreased. This made oil prices close with a decline.

The price of crude oil has now been oscillating near $100 per barrel. The previous days rally indicate that the daily high was not broken. Alligator shows an entanglement, while the KD golden cross is not very consistent.



Resistance point 1: 107.800 / Resistance point 2: 109.500 / Resistance point 3: 111.200

Support 1: 103.500 / Support 2: 101.200 / Support 3: 99.800


Bitcoin's decline continued. 10 May was the first time since July 2021 fell below $30,000. According to Coindesk data, Bitcoin on 11 May at around 9:30 was at 30,889 US dollars, Ether was at2348 US dollars.

As the world flee high-risk investments, Bitcoin has fallen more than 55% from its record peak last November.

Tightening monetary policy to combat runaway inflation will dampen liquidity and keep investors away from speculative assets in global markets.

Bitcoin has fell below the previous low point today. Alligator shows a death cross, while KD shows a low-end figure. Investment in virtual currency should be to maintained with risk awareness during this period.



Resistance point 1: 30500 / Resistance point 2: 31500 / Resistance point 3: 32800

Support point 1: 29000 / support point 2: 27800 / support point 3: 26200

OneProSpecial Analyst

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