{"id":20594,"date":"2024-11-21T13:15:03","date_gmt":"2024-11-21T21:15:03","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=20594"},"modified":"2024-11-21T13:15:03","modified_gmt":"2024-11-21T21:15:03","slug":"record-breaking-moves-bitcoin-soars-gold-climbs-and-natural-gas-heats-up","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/record-breaking-moves-bitcoin-soars-gold-climbs-and-natural-gas-heats-up\/","title":{"rendered":"Record-Breaking Moves: Bitcoin Soars, Gold Climbs, and Natural Gas Heats Up"},"content":{"rendered":"\n\n\n
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Bullet Points, Highlights, Announcements<\/h3>\n

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Crypto:\u00a0<\/strong><\/p>\n

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Ahead of the underlying asset, December Bitcoin futures rose above the benchmark $100,000 level \u2013 new record highs \u2013 this afternoon.\u00a0Traders attributed this latest milestone to the Securities and Exchange Commission\u2019s announcement that Chair Gary Gensler will step down effective Jan. 20, Inauguration Day.\u00a0Bitcoin futures have more than doubled in value this year and since Election Day, November 5, Bitcoin futures have soared roughly 40%.\u00a0The incoming administration has committed itself to explore crypto-friendly initiatives, including the creation of a bitcoin national stockpile and the replacement of the SEC\u2019s Commissioner.<\/p>\n

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Metals:\u00a0<\/strong><\/p>\n

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December Gold futures prices extended gains for a fourth straight day today to its highest level in ten days, fueled by a surge in safe-haven demand as geopolitical tensions intensify, particularly the ongoing Russia-Ukraine conflict.\u00a0The mutual escalation on the Russia-Ukraine, including recent Ukrainian U.S.-made and British-made missile strikes on Russian territory, has sparked fears the war may be entering a new, more destructive phase. Since last Thursday\u2019s intraday low of $2,541.50 per ounce, Dec. gold has moved up over $100 per ounce (a $10,000 per contract move) to trade above $2,570 into today\u2019s close of trading.\u00a0This bodes well for higher prices, even amidst growing pessimism about the possibility of more and more frequent cuts to U.S. interest rates early next year.<\/p>\n

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Energy:\u00a0<\/strong><\/p>\n

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Natural gas futures have also shown to be more sensitive to geopolitical risks and are in the middle of an impressive rally, climbing by 18% this week so far, reaching over $3.40 per million British thermal units today, after trading intraday below $2.52 on Nov. 4, an ($8,800 per contract move).\u00a0Typically the driving catalyst for higher natural gas prices, plummeting temperatures and an intensifying need for heating have now added to the futures\u2019 momentum.\u00a0The National Oceanic and Atmospheric Administration warned today of the season\u2019s first significant snowfall in the central and northern Appalachians, with heavy accumulation expected through Friday.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Daily Levels for November 22nd 2024<\/strong><\/p>\n

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About:\u00a0Cannon Trading is an independent futures brokerage firm established in 1988 in Los Angeles. Our mission is to provide reliable service along with the latest technological advances and choices while keeping our clients informed and educated in the field of futures and commodities trading.<\/div>\n
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Join our\u00a0Private Facebook group Subscribe to our\u00a0YouTube Channel Listen to our podcast: Subscribe on\u00a0Apple,\u00a0Spotify,\u00a0Amazon,\u00a0or wherever you listen to podcasts! Bullet Points, Highlights, Announcements   Crypto:\u00a0   Ahead of the underlying asset, December Bitcoin futures rose above the benchmark $100,000 level \u2013 new record highs \u2013 this afternoon.\u00a0Traders attributed this latest milestone to the Securities and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1243,231,76,230,67,30,61,1334],"tags":[],"class_list":["post-20594","post","type-post","status-publish","format-standard","hentry","category-bitcoin-futures","category-commodity-brokers-2","category-commodity-trading-2","category-day-trading-2","category-future-trading-news","category-futures-broker-2","category-futures-trading-2","category-gold-futures"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=20594"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20594\/revisions"}],"predecessor-version":[{"id":20595,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20594\/revisions\/20595"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=20594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=20594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=20594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}