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Market Snapshot – Markets In Consolidation Mode

Colin First
Market Snapshot – Markets In Consolidation Mode

Stocks Buoyant

It has been a decently good day in the stock markets so far with both the European and the Asian stock markets moving higher cautiously. After the slightly bearish day yesterday, we have a slightly bullish day today and this is likely to be the price action in the markets in the short term as we head into a period of low volatility and liquidity as well. We expect the holiday season in the markets to begin in the second half of the month and at that time, it is likely that the markets move into tighter ranges and we are likely to see more of consolidation during this period.

Bitcoin Continues to Hold Focus

The bitcoin markets continued to be the focus for the second day today as the prices pushed through the $15,000 region and they look good for more. We had mentioned in our forecasts since last week that the $15,000 mark was only a matter of time and thats what we are seeing now as the prices continue to surge as there does not seem to be anything that can hold back the prices for now. As we head into a crucial period for the bitcoin market, with the introduction of bitcoin futures in the CME and the CBOE, it remains to be seen how the traders are going to react to this phase.

This article was originally posted on FX Empire

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