Omicron being treated as a big threat to markets? The recovery does not suggest so by karamyog

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hive-167922 · @karamyog · Nov 30 '21

$12.74

Omicron being treated as a big threat to markets? The recovery does not suggest so

Yet another variant of COVID-19 was discovered by South African scientists and WHO has found another tool to show their relevance. The variant apparently is more potent and deadly. By now, I personally am tired of hearing about COVID. Markets dropped sharply the world over on Friday and everyone was blaming Omicron.

**Bitcoin**

![btc.JPG](https://i.imgur.com/nEBtKbC.jpg)

*When $75k, PlanB?* Bitcoin is still trading in the downward trending channel and went very close to the yellow support line before rising back to $57k. Bitcoin has to break out of this channel and should then retest it before continuing its journey to the moon. When most were worried about Omicron, MicroStrategy bought ~ $0.5 billion worth of Bitcoin again. Hat's off to Saylor's courage.

**S&P 500**

![es.JPG](https://i.imgur.com/0oKK6fZ.jpg)

Similar reaction to Bitcoin, sharp drop on Friday followed by recovery yesterday and today. India's index though just isn't finding any near-term strength. The divergence on India's equity index from global indices continued on Monday.

**Nifty**

![image.png](https://i.imgur.com/0Z4rszI.png)

Nifty's recovery on Monday can't even be called a recovery. RSI is near oversold territory for Nifty but I believe it may see support closer to 200 DMA. Economic conditions in the country and the political scenario do not seem to favor the bulls.

**Crude Oil**

Crude oil is a real party pooper. After the US decided to open up its stockpile of reserves to ease crude oil prices, Oil has crashed sharply. I don't think it will be a move that can push oil prices too low. OPEC has to keep oil supply steady i.e. not meet global expectations of increasing demand and Oil should reverse its direction sooner than later.

**DXY**

I don't want to discuss this in the context of Omicron. However, this is something I want to share. [Is the Dollar about to rally sharply?](https://hive.blog/hive-167922/@karamyog/is-the-dollar-about-to-rally-sharply). A post I wrote 5 months ago.

> On the daily chart, one can see the dollar is poised to break much higher. The daily chart is indicating that DXY is headed to levels between 97-98.

![image.png](https://i.imgur.com/KhoyYaG.png)

I am not bragging about predicting something correctly. I am probably more wrong than right. However, the point is that sometimes charts tell the future so well. Just wanted to share such an example.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@karamyog/omicron-being-treated-as-a-big-threat-to-markets-the-recovery-does-not-suggest-so)

👍 ph-support, project.hope, eric818, karamyog, culgin, steemitcentral, crypto.piotr, wilhb81, josevas217, vimukthi, help.venezuela, thetimetravelerz, awah, lennyblogs00, carrieallen, janettyanez, pablo1601, akdx, mccoy02, karupanocitizen, lanzjoseg, qsyal, jlvillamizar, minerthreat, sbi10, alvinauh, machnbirdsparo, defi.campus, syedumair, mariusfebruary, zoniacb, jagged, lastminuteman, legoman, yohan2on, fortunex, tolustx, psicologiaexpres, tysler, yurilaya, shortsegments, ph-fund, trabajosdelsiglo, mcoinz79, valchiz, esclavos75, victorialanz, mhossain, hungrypb, rakison2, gandhibaba, anahid, mtl1979, gbenga, edgarare1, truthtrader, cyberspacegod, peerzadazeeshan, mintymile, foxicoreviews, roadofrich, tinster, suanky, potpourry, and 10 others

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@pizzabot · Nov 30 '21

<center>PIZZA! 

PIZZA Holders sent <strong>$PIZZA</strong> tips in this post's comments:
@sheikhzaman<sub>(1/9)</sub> tipped @karamyog (x1)

<sub>Learn more at https://hive.pizza.</sub></center>

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@poshtoken · Nov 30 '21

https://twitter.com/What_The_FUD/status/1465528441529196546
<sub> The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.</sub>

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@sheikhzaman · Nov 30 '21

$0.25

Covid-19 make another impact for everywhere and in the market too, situation is a little shrink with market and recovery, its good analytical presentation, !PIZZA.

👍 kushtia

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@karamyog · Nov 30 '21

$0.92

thanks for the slice. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@karamyog/re-sheikhzaman-2nzf6k)

👍 karamyog

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