Forecast for the week from December 18th through December 22nd:
Bitcoin capitalization is 320 billion US dollars at the moment. We believe that this week we may see new records! On Monday, December 18th, Chicago exchange CME launches futures trades for the world's most popular cryptocurrency. One futures contract will be equal to five bitcoins. Now not only individual traders will be able to trade this cryptocurrency but also investment funds. СМЕ exchange will act as a guarantor in trades between buyers and sellers which is so vital for hedge funds. Bitcoin exchange rate is getting closer to psychological level of $20000. We are likely to see this level during the first CME trading hours. Trading signals: Buy 18400/17900 and take profit 20500.
This week we have mixed signals. On the one hand, investors are expecting rapid economics growth in G20 countries in 2018, which will cause increased demand of oil products. OPEC is increasing its forecast for oil consumption in 2018. That is a positive signal for the market. On the other hand, we are observing US dollar strengthening, which will put pressure on oil because of the inverse correlation between these two instruments. For now it's difficult to understand which one of the above mentioned factors will be stronger. Trading signals: flat 61,00-64,00.
Last week Boeing shares rose by 2.81% along with S&P500 growth of 0.92%. Positive trend is likely to continue this week. During the last six months investors bought Boeing shares, as the company managed to increase net profit by 36%. The key growth driver were military orders due to geopolitical tension between USA and Democratic People’s Republic of Korea. On Friday United States Secretary of State Rex Tillerson stated that USA can attack North Korea at any moment now. It's worth to mention that such statements were repeatedly made in summer, however no military actions were taken. Because of such verbal interventions, Boeing shares grew rapidly. This tendency is likely to repeat this week too. Trading signals: Buy 293,50/290,84 and take profit 296,69.