$XAG #Silver #FX #Commodities #Trading #Markets #Metals
The election drama is likely to play out for weeks, if not months. Trump, 74, is contesting the vote in the courts, but legal experts said his challenges had little chance of affecting the outcome.
Biden’s victory was driven by strong support from groups including women, African Americans, white voters with college degrees and city-dwellers. He was more than four million votes ahead of Trump in the nationwide popular vote count.
Biden, who has spent half a century in public life as a U.S. senator and then vice president under Trump’s predecessor Barack Obama, will inherit a nation in turmoil over the coronavirus pandemic and the related economic slowdown as well as disruptive protests against racism and police brutality.
Biden has said his first priority will be developing a plan to contain and recover from the pandemic, promising to improve access to testing and, unlike Trump, to heed the advice of leading public health officials and scientists.
Biden also has pledged to restore a sense of normalcy to the White House after a presidency in which Trump praised authoritarian foreign leaders, disdained longstanding global alliances, refused to disavow white supremacists and cast doubt on the legitimacy of the U.S. election system.
Despite his victory, Biden will have failed to deliver the sweeping repudiation to Trump that Democrats had hoped for, reflecting the deep support the president enjoys despite his tumultuous four years in office.
This could complicate Biden’s campaign promises to reverse key parts of Trump’s legacy. These include deep Trump tax cuts that especially benefited corporations and the wealthy, hardline immigration policies, efforts to dismantle the 2010 Obamacare healthcare law and Trump’s abandonment of such international agreements as the Paris climate accord and Iran nuclear deal.
Should Republicans keep control of the U.S. Senate, they would likely block large parts of his legislative agenda, including expanding healthcare and fighting climate change. That prospect could depend on the outcome of four undecided Senate races, including two in Georgia.
Biden, set to become the 46th U.S. president, mounted unsuccessful bids for the presidency in 1988 and 2008. His running mate, U.S. Senator Kamala Harris, will become the first woman, the first Black American and the first American of Asian descent to serve as vice president, the country’s No. 2 office.
‘TRYING TO STEAL AN ELECTION’
For Trump, it was an unsettling end after an astonishing political rise. The real estate developer who established a nationwide brand as a reality TV personality upset Democrat Hillary Clinton to win the presidency in 2016 in his first run for elected office. Four years later, he becomes the first U.S. president to lose a re-election bid since Republican George H.W. Bush in 1992.
Despite his draconian immigration curbs, Trump made surprising inroads with Latino voters. He also won battleground states such as Florida, where his pledge to prioritize the economy even if it increased the threat of the coronavirus appeared to have resonated.
In the end, though, Trump failed to significantly widen his appeal beyond a committed core of rural and working-class white voters who embraced his right-wing populism and “America First” nationalism.
Prior to the election, Trump had refused to commit to a peaceful transfer of power if he lost to Biden – and he stuck to that approach.
Before Biden’s victory projection and with Trump’s re-election chances fading as more votes were counted, the president launched an extraordinary assault on the country’s democratic process from the White House on Thursday, claiming the election was being stolen from him.
“This is a case where they’re trying to steal an election,” Trump said on Thursday.
Urging patience as votes were counted, Biden responded on Twitter: “No one is going to take our democracy away from us. Not now, not ever.”
Overall, the bias in prices is: Upwards.
By the way, prices are vulnerable to a correction towards 23.75.
The projected upper bound is: 27.50.
The projected lower bound is: 23.61.
The projected closing price is: 25.55.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 86.3528. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 18 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 59.29. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 31 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 145.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 4 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 1 period(s) ago.
Rex Takasugi – TD Profile
PREC.M.XAG= closed up 0.265 at 25.593. Volume was -0% below average (neutral) and Bollinger Bands were 53% narrower than normal.
Open High Low Close Volume 25.340 25.821 24.870 25.593 0
Technical Outlook Short Term: Overbought Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 24.22 25.04 20.08 Volatility: 48 50 57 Volume: 0 0 0
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
PREC.M.XAG= is currently 27.5% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.
Our volume indicators reflect very strong flows of volume into XAG= (bullish). Our trend forecasting oscillators are currently bullish on XAG= and have had this outlook for the last 10 periods.
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