Uniswap's UNIUSD Soars Over 20%: Buy the Dip as Bullish Momentum Builds 
"XRP Analysis: Whale Movements and ETF Developments Shaping the Market" 
Gold Soars Amid North Korea's Military Moves, Escalating Middle East Tensions, and Central Bank Purchases 
US election: how does the electoral college voting system work? 
Australia’s new digital ID scheme falls short of global privacy standards. Here’s how it can be fixed 
Solana Surpasses Ethereum in Fees as Whales Accumulate: A Bullish Outlook! 
FxWirePro- Gold trades flat ahead of US election, good to buy on dips 
US election: what time do the polls close and when will the results be known? 
Whales Pile into Ethereum Ahead of Pectra Upgrade: Key Support and Resistance Levels to Watch 
Bitcoin's Rollercoaster: Whales Accumulate While ETF Outflows Raise Eyebrows Ahead of Election 
Dogecoin Dives into Action: 1,645% Surge in Whale Activity Sparks Bullish Run! 
Silver Markets React as Trump Leads Elections, China Discusses Stimulus and Fed Plans Rate Cuts 
"Gold Under Pressure: The Trump-Harris Election and Fed Rate Talks" 
Dollar Strength from Election Drama and Fed Policy Pins Down Gold: Is This a Buying Moment? 
Three lessons the west can learn from China’s economic approach to AI 
After Donald Trump's victory in the 2024 U.S. presidential election, crude oil prices have seen significant changes. Here are the main points:
Immediate Market Reaction:
- Price Decline: On November 6, 2024, crude oil prices fell by about 2%. Brent crude futures dropped $1.17 to $74.36 per barrel, and West Texas Intermediate (WTI) crude lost $1.11, trading around $70.88 per barrel.
- Strengthening Dollar: The drop in oil prices is linked to a rise in the U.S. dollar. A stronger dollar makes oil, priced in dollars, more expensive for buyers using other currencies, which decreases demand.
Expert Insights:
Analyst Perspectives: Analysts believe that Trump’s administration may lead to an increase in U.S. oil production because of his support for the oil industry, which could push global oil prices down. While there might be some short-term gains from sanctions on Iranian oil, the overall outlook could be negative. Additionally, Trump’s victory could lower geopolitical risks tied to oil prices, especially regarding the conflicts in Russia and Ukraine, which might lead to lower oil prices as market expectations shift.
Oil Supply Trends: With Trump as president, there are expectations that U.S. oil production will rise. This could lead to an oversupply of oil in the market unless OPEC+ reduces its production. Recently, OPEC+ chose to postpone any increases in their oil output until December 2024 in an effort to stabilize prices during fluctuating demand.
Conclusion: In short, Trump’s election has caused crude oil prices to go down because of a stronger dollar and concerns about future demand. Although there could be some short-term benefits from sanctions on Iranian oil, the long-term outlook might be negative due to higher U.S. oil production and a more stable political situation that lowers risks in the market.
Major resistance to watch :
R1- $72.75, R2-74.10, R3-75.60
Support-
S1-$70, S2-$68, S3-$66
