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    • Yeah, ETH seems to be on the rise lately, and experts think it could go even higher, maybe reaching $20k to $25k. BTC, on the other hand, might not rise as much, topping out at around $100k.
    • Gold price and silver price look for gains but Brent crude price under fresh pressure While precious metals have seen some renewed upside, oil prices have taken a hit in early trading. Source: Bloomberg Written by: Chris Beauchamp | Chief Market Analyst, London   Publication date: Monday 26 February 2024 11:42 Gold back at trendline resistance The price rallied over the past two weeks, and has now returned to trendline resistance from the December record high. A close above $2040 would help to suggest a break of trendline resistance, which then opens the way to the early February high around $2064, with horizontal resistance at $2060 just before this. A close back below $2030 would begin to suggest a new lower high has been created and that a push back to the February low at $1984 could now begin. Source: ProRealTime Brent crude heads lower Oil prices fell sharply on Friday, and the new week has begun with fresh losses. Mid-February saw Brent’s rally falter around $83, and this topping out appears now to have given way to a turn lower. The price has broken below trendline support from the December low, though this also happened earlier in February and was followed up by a recovery. Further declines would take the price to the 50-day simple moving average (SMA), and then beyond this lies February’s low around $77. Bulls will need a close back above $81.50 to indicate that trendline support has been recovered. Source: ProRealTime Silver losses halted The selling in silver was stemmed on Friday, as the price rebounded after a tough week. The price is pushing higher off its overnight lows, with short-term gains above $23.20 helping to support a cautiously bullish view. The next target becomes the mid-February high at $23.50. A close above this could mark the end of the consolidation in silver that has been ongoing since the beginning of the year. Alternately, a close back below $22.50 would open the way to the 2024 lows at $22. Source: ProRealTime
    • CAC 40, DAX 40 and Dow trade in record highs but may short-term consolidate Outlook on Nikkei 225, FTSE 100 and DAX 40 ahead of this week’s German and US inflation reports. Source: Bloomberg Written by: Axel Rudolph FSTA | Senior Financial Analyst, London   Publication date: Monday 26 February 2024 11:29 The Nikkei 225 consolidates below last week’s record high Last week’s swift ascent in the Nikkei 225 has taken it to a new record high, above that seen 34 years ago, with the psychological 40,000 mark remaining in focus. Increased foreign investment and signs of sustained profit growth among Japanese companies could lead to the 40,000 level being reached as there remains potential for significant additional foreign funds to enter Japan's stock market. However, risks such as China's economic fluctuations, potential yen strengthening, and changes in the Bank of Japan's policy could impact the index's upward trajectory. On Monday a minor retracement lower is taking the Nikkei 225 back towards its 1989 previous record high at 38,957. Below it the mid-February high and the February uptrend line at 38,876 to 38,860 should offer support. While last week’s low at 38,104 underpins, the medium-term bullish uptrend remains intact. Source: ProRealTime FTSE 100 awaits MPC member speeches The FTSE 100’s recovery from last week’s 7,623 low amid strong earnings by the likes of Anglo American and Rolls-Royce and has so far taken it to 7,717 on Friday, a level from which it is currently slipping back. It’ll need to be exceeded for last Tuesday’s 7,750 six-week high to be back in focus. Further up lurks the 7,769 December peak. Minor support below Monday’s 7,689 low sits at Friday’s 7,675 low ahead of the 55-day simple moving average (SMA) and Wednesday’s low at 7,634 to 7,623. Source: ProRealTime DAX 40 stalls slightly below Thursday’s record high The DAX 40 index’s swift rally to a new record high close to the 17,500 mark on Thursday is taking a breather as investors look forward to German inflation data out on Thursday. Minor support below Friday’s 17,356 low is only seen around the mid-February 17,197 high. Above the current record high at 17,448 lies the 18,000 region. Source: ProRealTime
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