Yahoo Finance Market Snapshot – Markets Still in Tense Mood
The stock markets around the world have been able to recover a bit and hold on to their gains on the back of reports that say that the Chinese leadership is not in a mood to make the trade situation with the US into a full blown trade war and hence it is likely that the fears of a global trade war breaking out may not come to fruition. The markets had been under pressure and a lot of volatility mainly due to this fact and thee reports have sought to assuage the fears of the investors and the traders. This has helped the market to move higher and some of the stock markets in Europe like the DAX, have been able to make some strong gains due to this and also due to the renewed hopes that the tapering of the QE would be delayed for much longer than what was initially anticipated.
The crypto industry has been on the backfoot for much of the last 24 hours as the gains made over the weekend seem to have evaporated over this period and the bulls have been unable to make much of a headway. The BTC prices continue to trade near the lows of its range and this is making the life difficult for the bulls as they fear that the support might give way at any moment of time. The longer that the prices linger near the lows of the range, the greater is the risk of the prices falling through and this is what the bulls have to guard against. There has not been any specific news that has been having a large impact on the prices of the cryptos but it is more of a general reluctance among the traders to invest at this point of time when the direction is still unclear and also at a time when many of the old traders seem to have been still caught out at the highs.
This article was originally posted on FX Empire
