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You Might Now Have Gold Or Silver

Most gains in the commodity market in 2021 have been lost. With an emphasis on Gold and Silver, Silver’s price at the beginning of the year at $26.605 per ounce. Price rallied to $30 on the 1st of February, after which a major dip began. Today’s current price of silver at $23.685 was last reached during the lockdown in April 2020. The long time frame shows that price of $XAGUSD might dip in the coming months or years, as RSI shows that price has been overbought.

Could it be that the pandemic might pose a further threat to the commodity market? The last time the commodity market was badly affected was in 2011 after it reached a peak at $50. In 2018, the US Department of Justice (DoJ) had arrested a former long-time precious metal derivative trader from JP Morgan Chase for precious metal fraud. This year’s fall in price might be a result of increasing cases of Covid-19 across the world.  

We might see a rally in the price of Silver in the coming weeks as there was a bounce on the support level at $22.246. All Silver gains in 2021 have been lost with -10.9%. Price is currently at the lower region of the Bollinger bands, but we have an indication on the RSI that the price is oversold. In the last 5 trading days, the price has been consolidating, which could lead to the next bull run to $27.902.

$XAUUSD’s price at the first trading in 2021 was $1902. Buyers made price reach at yearly high at $1959., which was about 3% gain. Gold has lost all the gains this and at a loss of 5x from the initial monthly gain. In April, we wrote of the continuous fall in the price of Gold. . There was an uprise to $1918 from $1778 after the analysis. Nevertheless, after the rally, the price fell to $1740 this month, where the article’s next support level was pointed to.

Many manufacturing countries might have reduced production, which could have been as a result of low patronage caused by Covid-19, hence the reason for the drop in price. Price was initially showing overbought in May, but in June and August, the price of Gold showed the price is oversold. The current price of Gold is at $1779.24, as last week’s trading closed high. This indication could push the price to $1895, renewing hope for the gold investors.  

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Dow Jones Fails to Breakout of Resistance

Dow Jones, being the index of the 30 top-performing U.S. companies, has been in range in the past few months, with the all-time high at $35,260. In January 2021, the Dow Jones passed the psychological level at $30,000 for the first time.

IN January 2020, Price tried to reach $30,000 but the bears pushed the price lower. Since March 2020, Dow Jones has been on a bullish run from its then $20,000, that approximately 75%. Prices of many stocks in the US have reached new all-time highs after the pandemic. There have been rising cases of covid-19 across the world, and especially with the USA having an average of over 100,000 new cases per day.

If covid-19 cases cannot be controlled in the next few months despite vaccines being administered, stock prices might begin to fall across the world and lockdown might be re-imposed. The next major support of $DJI could be around $26,900 if the price falls. As the price of $DJI crosses $33,000, RSI indicated that the price has been overbought, though the bulls still pushed the price higher to reach $35,000. The last time RSI showed that price has been overbought, the price of $DJI was below $30,000 which resulted in about a 40% dip in price.

Price still maintained the higher part of the Bollinger bands, though, in June, there was an indication of a reversal in price, as the price fell to $33,100 from $34,900. Companies in Dow Jones with the highest losses in July were Verizon with 5.9%, Walt Disney 2.5%, and Merck 3.1%. If the price of $DJI fails to break the resistance level at $35,260, the price might fall and might be catastrophic for the investors.

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CONFESSIONS OF A FUND MANAGER

Yes, it’s true. In the midst of a global pandemic and during shelters in place, I kicked off my efforts to raise a vc fund in May 2020. Because I know the road is long to eventually work with institutional investors, I decided that with folks much more willing to take a video call, the pandemic was a good time, ironically, to forge those relationships. I kept having conversations and those conversations led to multiple meetings. I can no longer say that I hate networking. The pandemic made me love it. I joined Lunchclub, Clubhouse, and 100 Women in Finance. I learned a ton. Now 15 months later, I am doing my first first close! As I reflect on the process to prepare for the second close, I am basking in this milestone. It’s a huge moment in my career but it is an even bigger win for Africa.

Now by 2021, I had been in a lot of meetings by global pandemic standards. One of those meetings was with The Afropreneur himself, Idris Bello. I’ve followed Idris for a long time on Twitter. I knew his work. But I knew his partners, Marsha Wulff and Michael Oluwagbemi, a little bit better. I wanted to make an introduction to LoftyInc and they told me that I needed to speak with Idris. So I did. A couple months later, I find myself in Abuja to meet Michael at the LoftyInc office discussing an opportunity to join them with their new Fund.

Abuja, 2021.

Even though I was born in California, Nigeria was always called home. I always knew that I would invest there. That call has become more possible with FM Capital Group and the small checks we are able to deploy. But LoftyInc is one of the most prolific investors on the continent. They’ve been investing in Africa since 2009. They started one of the first tech hubs in Nigeria, Wennovation Hub in 2011. I did my first investment in Uganda in 2012. The Partners have been together for over 11 years. I’ve been a solopreneur for 6 years now. So when they gave me the opportunity to join a TEAM, and THIS is the team I get to join?!? I literally get to learn from the trailblazers. It was a no-brainer. In fact, it is an honor and a privilege.

I’ve been working with LoftyInc for 4 months now on the LoftyInc Afropreneurs Fund 3. I can’t wait to talk more about it, especially from an operations perspective. What a journey it has been! And this is only the beginning…

Pebble Beach, 2019.

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WTI Oil Price Falls Below $70 Again

The WTI Oil Price has maintained its price above $70 since mid-June until the price crossed below $70, reaching $65.24 in July. There have been rising cases of Covid-19 in some countries, which has resulted in some countries going back to lockdown. The Delta Variant of Covid-19 has been reported to be spreading like wildfire.  

$CL’s price peaked this year at $76.91. The last time price of crude oil reached $76.91 was October 2018. The global lockdown in 2020 made the price of Crude Oil fall to negative prices. Could it be that the increasing cases of Covid-19 across the world are responsible for the fall in the price of crude oil? Only time will tell, with some countries are re-entering another phase of lockdown. 

Despite vaccines being administered, many countries are back to lockdown. Full-time jobs lost in 2020 were around 400 million. Many economies are yet to recover from the challenges faced during the lockdown. Palliatives were distributed to citizens in developed countries, while underdeveloped countries faced the reality of life as many people starved. The world cannot afford another lockdown and there might be an increased number of depressed people if another lockdown is introduced globally.

RSI shows 3 different cases where the price of crude oil has been overbought in June 2021. This could be a strong indication of a possible reversal to the strong support level of $57.82. However, this month of August has already started on a bearish note with two bearish daily candlesticks.

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MICROSOFT CURRENTLY RANGING AROUND THE ALL-TIME HIGH

In the early trading days in 2018, Microsoft’s share price broke out comfortably above $100. And since then, the price is yet to reverse toward $100. The bull run continued until February 2020 when the price reached $190.82. As at that time, a resistance level was formed around $190.82, which lasted for about 3 months, as the support level was $134.07 in March 2018. This correction was the longest one since 2018, which was about 29.7%. The next rally after the correction has made a price of $MSFT attain $281.11 price.

Over the years, $MSFT has been investing hugely in products with Augmented reality and Virtual reality. These investments could be the major reason for the bullish run in the past few years. The most recent all-time high was reached at $281.11, on the 7th of July. The chart has the majority of higher low and higher highs patterns. Since the beginning of June 2020, RSI has shown many levels where price has been overbought.

A reversal could occur as a gap down and a gap up was shown on the chart when the price was below $250. A higher low might begin, which might push the price lower to reach $262.03. Also, many stocks are currently at the all-time high or ranging around the all-time high.

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Google Reached An All-Time High

The share price of google at the beginning of 2021 was $1341.91. The bulls have been pushing the price upwards since March 2020, when the price was at $1021. Since the bullish trend started in March 2020, $GOOG has generated over 152%. There have several all-time highs in the last year. This might lead to a price reversal. Google has new products with augmented reality, this could have been the reason for the continuous bullish movement.  Google is currently at an all-time high of $2574.38, the price might reverse with obvious indications on the chart.

The RSI has shown at least three major levels of the price being overbought since the beginning of the year. On the chart, there was a correction that occurred in May 2021, after which the price rallied to a new all-time high at $2574.38. Price tried to touch the middle Bollinger band line before a continued rally, this could be an indication for a possible reversal in price to a new support level at $2331.24. As we await the $GOOG earnings report on the 29th of July, the candlestick for July might be a bearish one with these indications.

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MICROSOFT REACHED AN ALL-TIME HIGH, PRICE MIGHT REVERSE.

The monthly chart shows that $MSFT has indeed enjoyed a bull run since 2009. That’s about a 2,000% gain in the last 12years. Despite Bill Gate stepping down from being a member of the board at Microsoft, the share price of $MSFT has continued to increase. In March 2020, the month Bill Gate resigned from being a Board member at Microsoft, the share price of $MSFT closed at $157.60, which means the appreciation was about 72%.

In the past, there have been several all-time highs with minimal reversals. The current share price of $MSFT is at an all-time high at $271.77. There are indications showing that there might be a reversal to the downside, to new support at $249.04. That shows that about 9% might be lost from the current price of $MSFT at $271.77.

RSI has shown 3 obvious levels that price has been overbought. In April, the all-time high was at $263.03, after which a correction occurred which made the price reach $238.11. Price is currently at the upper region of the Bollinger bands. In the month of June, the price touched the middle line of the Bollinger Bands two times.  This might be an indication of a possible reversal.

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COINBASE IS CURRENTLY BASING

Coinbase Global ($COIN), which operates, as a cryptocurrency exchange platform, debuted as a public stock in mid-April. At this time, many cryptocurrencies became even more volatile and saw a significant drop in price. Coinbase was founded in June 2012 by Brian Armstrong, a former Airbnb engineer. Armstrong enrolled in the Y Combinator start-up incubator program and received a $150,000 cash infusion.

Since the Coinbase stock debuted publicly, it has been on a downtrend. The share price opened at $381, the intraday high was at $429.54, and then traded as low as $310. The current chart of $COIN is just a good representation of lower lows and lower highs since it was listed. The support level has been maintained at $216.78 since mid of May 2021. Since this May, the price has been ranging between $216.78 and $247.99.

On the RSI, there have been many instances of the price being oversold. Price is currently on the lower region of the Bollinger bands. A breakout to the upside at the breakout level line on the chart might push the price to $300. The crackdown on Crypto in China might have caused the price of $COIN to drop.

However, cryptocurrency has been believed by a few people as the currency of the future.

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ETSY SHARE PRICE IN A RANGE

ETSY made its stock market debut on April 16, 2015, with an initial public offering of $16 per share. Etsy was able to sell 13.3 million shares at the time. Since the launch, ETSY has appreciated in value by about 15X.  Put into real perspective, If $1million was invested in $ESTY in 2015, the current value should be over $14million.

ESTY has maintained a bullish run in the past 6years, reaching an all-time high at $252.53.  However, Since the all-time was attained, the price has started to dip. A head and shoulder pattern has been formed between February and April of this year, which brought about a range between $190 and $252.

After the head and shoulder pattern has been formed, there came a dip which made the price reach $153. Since the price fell from an all-time high at $252, $ETSY has lost 39% of its share price. Since the beginning of May 2021, $ETSY price has been between $153.80 and $176.50. Indications show there would be a breakout soon. To the downside or to the upside? There are chances price might appreciate towards $200 in the coming weeks. Business Insider has opined that the next coming month might be bullish for $ETSY( ). Since the recent dip in price, RSI has signaled that the price has been oversold.

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THE NEXT CRYPTO BULL RUN: BITCOIN AND ETHEREUM

Since Bitcoin was launched in 2009, price has maintained a strong bullish movement with about 410,000% gain, from $0.09 in 2009 to its current price at $36,700. The current $BTC market capitalization stands at $678Billion.  Ethereum, on the other hand, is the second largest crypto with current market capitalization at $299Billion after its launch in 2015.

This signifies that most crypto assets are less than a decade. Ethereum has since its inception has been publicly accepted by Crypto traders and investors. Hence, the reason for the bullish movement. Just like other markets, the crypto market is a bull and bear market. High leverage usage must have wiped off some accounts due to greed. Currently, the crypto market is about $1.62Trillion with Bitcoin and Ethereum having over 61% of the market share. There are other thousands of cryptos newly introduced e.g. Ripple, Dash, Tether, Litecoin, Cardano etc. all of these make up the remaining 39% share of the crypto market.

Bitcoin, in June 2020, was below $10,000. As at today, Bitcoin is above $36,000. Ethereum in June 2020 was below $300, the price of Ethereum today stands at $2,600. In the last one year, Ethereum has done far better than Bitcoin in investment gains. Both Bitcoin and Ethereum reached an all-time high in 2021. Ethereum reached $4,370 in may 2021 and Bitcoin reached $63,000 in March 2021. With Bitcoin and Ethereum having 61% of the total crypto market, they both have a major influence in the price movement of other coins. The increased acceptability of Bitcoin and Ethereum will determine the acceptability of other coins.

After the all time high was reached in March 2021 at $63,000, price was almost halved after it reached $31,200.

About $30,000 was wiped out in the price of Bitcoin last month, which made it the worst month in Bitcoin history with 41% lost from the highest price. Bitcoin has a very strong resistance at $43,980, a bullish breakout from this level might result in a fake out as price on the weekly chart is currently in the lower region of the Bollinger bands. The recent dip affected most of the assets in the Crypto market. Price of $BTC might rally towards $44,000, but the bears might push the price lower to reach $19,000.  If a dip occurs, this will reflect in the prices of other cryptos. The next dip might also push price of Ethereum to $1,500.

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