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October 23, 2024

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The impact of Israel’s war in the Gaza Strip could erase “over 69 years of progress” in the enclave, the United Nations has warned in a new report, saying that measurement for indicators such as life expectancy, education, income and standard of living are projected to drop to a level estimated for 1955.

The UN Development Programme (UNDP) said that without “lifting economic restrictions, enabling recovery, and investing in development, the Palestinian economy may not be able to restore pre-war levels and advance forward by relying on humanitarian aid alone.”

“Projections in this new assessment confirm that amidst the immediate suffering and horrific loss of life, a serious development crisis is also unfolding – one that jeopardizes the future of Palestinians for generations to come,” said Achim Steiner, UNDP administrator.

The UN report comes as US Secretary of State Anthony Blinken visits the Middle East to “emphasize the need to chart a new path forward that enables Palestinians to rebuild their lives and realize their aspirations free from Hamas’s tyranny,” according to the State Department.

Israel launched a war on Hamas in Gaza on October 7 last year after the group attacked southern Israel, killing 1,200 people and taking more than 250 hostages. The Israeli offensive has killed more than 42,000 people in Gaza, according to the health ministry there, displaced most of its people and flattened large swathes of the enclave.

The UN report, which looks at estimates for the Palestinian territories as a whole, says that over 4 million people in them were affected by poverty in 2024, including 2.6 million newly impoverished people. This brings the poverty rate to 74.3% across the Palestinian territories, according to the report.

Palestinian Authority President Mahmoud Abbas has accused Israel of almost entirely destroying Gaza, saying it is “no longer fit for life.” This month, a UN inquiry accused Israel of carrying out a “concerted policy” of destroying Gaza’s health care system, adding that its policies “constitute the war crimes of willful killing and mistreatment and the crime against humanity of extermination.” The Israeli foreign ministry called the accusations “outrageous.”

This post appeared first on cnn.com

German police busted a pizzeria in the western city of Düsseldorf that also delivered a side order of cocaine when customers asked for item number 40 on the menu.

“That was one of the best-selling pizzas,” criminal director Michael Graf von Moltke told reporters in Düsseldorf.

He said police were first tipped off by suspicious food inspectors in March. When drug squad officers began observing the restaurant they soon discovered why pizza number 40 was so popular, Moltke told reporters on Monday, German news agency dpa reported.

When police buzzed the apartment of the pizzeria manager, the 36-year-old allegedly threw a bag of drugs out of the window, which “fell right into the arms of the police officers,” Düsseldorf police said. The bounty included 1.6 kilograms (3.5 pounds) of cocaine, 400 grams (14 ounces) of cannabis and €268,000 ($289,000) in cash.

Police said the restaurant manager, who was released from detention after a few days, soon reopened his business and started selling pizza number 40 with the cocaine side order again. That gave investigators an opportunity to look into the supply chain and after several weeks, some 150 officers busted an entire drug ring in western Germany, arrested three suspects including the 22-year-old head of the drug operation, and raided the homes and businesses of another 12 suspects.

During the raids, they came across two cannabis plantations in nearby Mönchengladbach and Solingen, with 300 and 60 plants, respectively. They also found cutting and stabbing weapons, as well as cash and expensive watches, dpa reported.

The pizzeria manager was arrested when he tried to flee abroad, and remains in custody. None of the suspects’ names were released, in line with German privacy rules.

Police did not say how much the pizzeria charged for the special order.

This post appeared first on cnn.com

Ethereum is retreating below the EMA 200 moving average

  • For the third day in a row, the price of Ethereum is on a bearish trend, with the formation of a new weekly low of $2600

Ethereum chart analysis

For the third day in a row, the price of Ethereum is on a bearish trend, with the formation of a new weekly low of $2600. That move pushed us below the EMA 200 moving average, which could increase bearish pressure on weakened Ethereum. On Tuesday, October 22, the price had resistance at the $2640 level and did not have enough strength to move above.

A bearish consolidation from that zone to the new weekly low was initiated last night. And in the previous few hours, the price managed to stabilize and recover to the $2620 level. Additional pressure in this zone creates the EMA 200 moving average. This brief bullish consolidation has the opportunity to move Ethereum above the moving average and add to the bullish momentum. After stabilizing there, we can think about starting bullish consolidation and growth to higher levels. Potential higher targets are $2650 and $2675 levels.

 

The pressure of the moving average on the price could determine the further trend this week

If Ethereum does not have enough strength to stabilize above the EMA 200, we will see a continuation of the bearish trend. With the first impulse, we go below $2600 to a new weekly low. With that step, we confirm the growth of bearish pressure on the price. A further pullback and a search for a new support level follow. Potential lower targets are $2575 and $2550 levels.

Spot Ether ETFs in the US reported net inflows of $11.94 million on Tuesday, October 22, thanks entirely to BlackRock’s ETHA. ETFs traded $118.4 million yesterday, compared to $163.18 million on Monday, October 21.

 

The post Ethereum is retreating below the EMA 200 moving average appeared first on FinanceBrokerage.

Bitcoin is losing its bullish momentum in the last two days

  • On Wednesday, October 23, the Bitcoin price continued its previous sideways consolidation

Bitcoin chart analysis

On Wednesday, October 23, the Bitcoin price continued its previous sideways consolidation. We see price pressure on the EMA 200 moving average for the second day. The bad thing for Bitcoin is that we don’t have a new high forming, which could pull the price to the bullish side. A jump to $68,000 should be the first indication that the momentum is waking up and that we are slowly turning to recovery.

After that, the following targets are $68500 and $69000 levels. At $69,000, the price will test the weekly open level. Depending on the movement in that zone, future trends will also depend. It is possible that we could have a new resistance to continue on the bullish side. Potential higher targets are $69500 ​​and $70000 levels.

 

The price remains neutral, giving us no indication of where it will go in the coming period

For a bearish option, Bitcoin should make an impulse below the EMA 200, down to the $66500 level. With that move, we will test this week’s low before continuing with a further pullback. Strengthening the bearish momentum will increase the pressure on the price to form a new lower low and confirm the bearish trend. Potential lower targets are the $66,000 and $65,500 levels.

Options traders are placing significant bets that Bitcoin will hit a record high of $80,000 by the end of November, according to Bloomberg.  Trump, an outspoken proponent of digital assets in the past month, is seen as a pro-crypto candidate. On the other hand, Harris has pledged to support a regulatory framework for cryptocurrencies, a move away from the tighter oversight seen during the Biden administration.

 

The post Bitcoin is losing its bullish momentum in the last two days appeared first on FinanceBrokerage.

S&P 500 and Nasdaq: S&P 500 has resistance at 5860.0 zone

  • The EMA 200 moving average proved to be excellent support for the S&P 500 index on Tuesday, October 22
  • Nasdaq managed to climb to a new weekly high at 20455.8 level

S&P 500 chart analysis

The EMA 200 moving average proved to be excellent support for the S&P 500 index on Tuesday, October 22. After support at the 5820.0 level, we saw the initiation of a bullish consolidation back to the daily open level of 5857.3. We even tested the weekly open level of 5863.8 but failed to hold on to that zone. The index again turned to the bearish side and retreated to 5845.0 levels. Here, we test the EMA 500 moving average.

Potential lower targets are 5840.0 and 5830.0 levels. If we get support from the EMA 50 moving average, the S&P 500 has a new opportunity to return above the daily open level and test today’s resistance in the 5865.0 zone. We need to stay there for further recovery on the bullish side. Potential higher targets are 5870.0 and 5880.0 levels.

 

Nasdaq chart analysis

Nasdaq managed to climb to a new weekly high at 20455.8 level. After three days, the index broke the resistance at the 20400.0 level. Although we did not stay above for long, the breakout is a good indicator that the Nasdaq has pretensions to move back to the bullish side. Potential higher targets are 20475.0 and 20500.0 levels.

For a bearish option, we need a pullback below the 20300.0 level. With that step, the index moves below the weekly open level to the negative side. After that, pressure builds for a further pullback to 20250.0 and the EMA 200 moving average. This week, the moving average managed to hold the price above on the positive side and produce a bullish consolidation in the previous two cases. This time, we hope for a breakout below and a new daily low formation. Potential lower targets are 20225.0 and 20000.0 levels.

 

The post S&P 500 and Nasdaq: S&P 500 has resistance at 5860.0 zone appeared first on FinanceBrokerage.

ApeCoin and Akita Inu: pullback continues to new weekly lows

  • The price of ApeCoin continued to move under bearish pressure to a new weekly low at 1,252 level
  • Akita Inu’s price hit a new weekly low of 0.00000011500 on Tuesday, October 22

ApeCoin chart analysis

The price of ApeCoin continued to move under bearish pressure to a new weekly low at 1,252 level. The price stopped the fall and made a slight recovery up to 1,300 levels. Here, we need to maintain ourselves and create a position to start a new recovery. Then, we need to move above 1,400 to get the EMA 50 moving average support. If that happens, we can hope for a continuation of the bullish option. Potential higher targets are 1,500 and 1,600 levels.

For a bearish option, ApeCoin needs to continue its pullback and break the previous low. This will form a new weekly and confirm price weakness and pressure to look for new lower support. Potential lower targets are the 1,200 and 1,100 levels. Additional price support is at 1,100 in the EMA 200 moving average.

 

Akita Inu chart analysis

Akita Inu’s price hit a new weekly low of 0.00000011500 on Tuesday, October 22. After a short-term consolidation, the price manages to recover to the 0.00000012500 level. We seem to have resistance in that zone and have been unable to continue the recovery. This triggered a bearish consolidation to 0.00000011750, where the EMA 200 moving average awaits us.

The Akita Inu is now on the bearish side, which could produce a move below and a test of the previous low. This time, the new pressure could create an impulse below and thus send the price to a new weekly low. Potential lower targets are 0.00000011000 and 0.00000010500 levels. If the EMA 200 support manages to stop further pullback, the price will have an opportunity to initiate a bullish consolidation. We expect a rise above 0.00000012500 and new support at the EMA 50 moving average. Potential higher targets are 0.00000013000 and 0.00000013500 levels.

 

 

The post ApeCoin and Akita Inu: pullback continues to new weekly lows appeared first on FinanceBrokerage.

Gold and silver: the bullish trend continues for gold

  • On Tuesday, October 22, the price of gold rose to a new all-time high of $2748
  • The price of silver continued this week with the previous strong bullish consolidation

Gold chart analysis

On Tuesday, October 22, the price of gold rose to a new all-time high of $2748. During the EU session, the price was consolidated around $2730; in the US session, we saw the strengthening of the bullish momentum to a new high. Yesterday’s high was broken, indicating that we should continue on the bullish side. Potential higher targets are $2750 and $2760 levels.

If we see a reduction in the momentum of the rising trend, the price of gold will first return to the $2730 support zone, where the EMA 50 moving average awaits us. This time, we expect a break below and a strengthening of the bearish picture. After that, it remains to go down to $2720 and test the weekly open level to stay on the positive side. The impossibility of the price to gain new support there will increase the bearish pressure and form a new low. Potential lower targets are $2710 and $2700 levels.

 

Silver chart analysis

The price of silver continued this week with the previous strong bullish consolidation. On Tuesday, October 22, the price climbed to $34.86, a new multi-year high. We expected resistance and a bullish trend to soften at $34.00, but the price continued to rise. For now, everything remains bullish, and we hope for a continuation of the silver price on the bullish side. Potential higher targets are $35.00 and $35.50 levels. $35.00 could be a strong psychological level for investors in this precious metal.

For a bearish option, silver would have to initiate a bearish consolidation down to the $34.00 level. Here, we hope for greater pressure on the price of silver to fall below the weekly open level of $33.77. Crossing on the negative side will further strengthen the bearish momentum, and silver must look for a new support level. Potential lower targets are $33.50 and $33.00 levels.

 

The post Gold and silver: the bullish trend continues for gold appeared first on FinanceBrokerage.