Bitcoin and the China news and Oil at a 3 year high

September 27, 2021

Ed Moya, Senior Market Analyst at OANDA joins us to focus on the cryptocurrency and oil markets.

Starting with the news out of China on Friday, banning cryptocurrency transactions. The price dropped on the back of the news however has recovered a portion of the drop and is only down a couple thousand dollars currently.

When it comes to oil, which is now trading at 3 year highs, we look ahead to further near term catalysts. Another consideration that not many are discussing is the impact a spike higher in oil could have on the current economic recovery.

Click here to follow along with Ed’s daily market commentary.

    Sep 27, 2021 27:48 AM

    GDX, GDXJ, SIL, and SILJ all “topped” this morning at their respective Fibonacci based R3 Pivots on the 15 minute and lesser charts.

    Bitcoin still looks bad.

    Sep 27, 2021 27:58 AM

    The S&P 500 and the Nasdaq have both reached their weekly R3 Pivot resistance versus gold/GLD (weekly pivots are a much bigger deal than daily or intraday pivots)…

    Sep 27, 2021 27:36 AM

    Chinese education stocks TAL and EDU report tommorow before market opening. Down 90 percent from highs. Lots of cash per share to survive and grow. DYOR. Charts look good. Looks like NIO at 2.00 Overstock under 3.00 DDD under 5.00 NO one has a crystal ball

      Sep 27, 2021 27:35 PM

      I have some EDU, okay with it. Not so sure about TAL.

    Sep 27, 2021 27:47 AM

    Since quacks outnumber good docs, it’s always good to see a doctor telling the truth (just 3 minutes):

    Sep 27, 2021 27:58 AM

    Exciting day ……….. BOSTON FED CHAIR …. stepping down… ha, ha, insider trading should be the crime… Jail the … (you fill in the blank)….
    posted at zerohedge…

      Sep 27, 2021 27:37 PM


      Sep 27, 2021 27:05 PM

      OOPS…… Victim No.2….. DALLAS FED CHAIR….. says bye, bye….. desire life change… lol… got his hand in the cookie jar, slammed … lol..

        Sep 27, 2021 27:21 PM

        Never just one cockroach, there’s always more.

          Sep 27, 2021 27:41 PM

          Ha, good one….

    Sep 27, 2021 27:27 PM

    China Banned All Crypto Transactions On Friday, But Experts Say The Move Was Mostly Priced In For Bitcoin

    Isabelle Lee – 09/27/2021

    “On Friday, the People’s Bank of China said in a statement that virtual currencies “are not legal and should not and cannot be used as currency in the market.”

    “They do not have the same legal standing as fiat currency, the central bank added, since they are issued by non-monetary authorities and use encryption technology.”

    “The move came after the Asian superpower banned cryptocurrency mining and barred financial institutions from offering cryptocurrency services earlier this year.”

    “The news sent bitcoin hovering around $42,000 on Friday, a drop of around 8% in 24 hours, according to CoinDesk data. The price of the digital asset bounced back over the weekend.”

    Sep 27, 2021 27:32 PM

    The Energy Crisis Is Sending Oil, Gas, And Coal Prices Soaring

    By Tsvetana Paraskova – Sep 27, 2021

      Sep 28, 2021 28:11 AM

      RECO.V, a company I first saw on oilprice when it was .60CAD. I didn’t buy, the Namibia story didn’t seem believable. You are probably aware of what happened with that stock.