Social networks are enemies of the state?

By 17/07/2020News
Morning Stock News

Gold   1798,545
(+0,10%)

EURUSD   1,1386
( +0,06%)

DJIA  26595,50
(+0,14%)

OIL.WTI  40,86
(+0,42%)

DAX   12904,74
(+0,01%)

What happened with the Twitter account hacking is like a joke. The scammers made about $150,000 and the public is angry about the bitcoin. Cryptocurrency is evil, because hackers got BTC on their account. So what’s the joke?


Gold

Gold

The joke is that by hacking into Twitter accounts of major politicians and businessmen, hackers can make hundreds of times more money. Like releasing information that Tesla’s company is declaring itself bankrupt. Including Ilon Mask’s account. A 10%-20% drop in Tesla shares (on news) could bring millions of dollars to option sellers.
But it’s nothing at all. Let’s imagine if these Twitter accounts were to speak out on some political topic. For example, that Hong Kong is separating itself from China. They’d be worth billions of dollars by now.
So making money is the last thing hackers were interested in. At least, there were two goals: to compromise Twitter and cryptos.


Indices

The stock markets responded to the situation above with a predicted decline. And then on the Euronews channel it was directly stated that the second wave of coronavirus came to Europe. The wave that was expected only in autumn, not in the middle of summer. What happens next?
One thing is very likely to happen. Even if very bad news continues to come out, the stock market will not collapse until the spring low. Investors saw what a big bounce was. And no one else will want to sell shares at lows to see them 10-20% higher in a month.


Gold

On Thursday, yellow metal quotes fell below $ 1800 again. On the chart above you can see an interesting candlestick formation. A new narrow corridor begins to form. It has 7 candlesticks so far. But nothing prevents this corridor, potentially, will last for another month. That’s what we’ve been seeing for the last year and a half. The gold stands in the corridor, followed by a leap upstairs and a new corridor.
The trend is getting stronger and stronger. There are practically no kickbacks over the previous highs. What do you think the analysts started talking about against this background? The discussion of the price of $3000 per troy ounce is yesterday’s day. Some analysts say that in the next 2 years gold will grow up to $4000 per troy ounce.


What’s waiting for us today?

10:30 Speech by ECB representatives
11:00 Eurozone Consumer Price Index June
14:30 Started house construction in the United States in June
16:00 US Michigan University Consumer Confidence Index July


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