There are over 50 hot assets you can trade on PrimeBit. This week we recommend having a closer look at USOIL, Alibaba, and Binance Coin contracts.
Buy or short them at the right time using any leverage from 1x up to 200x. Here’s why:
Both USOIL and UKOIL contracts are available on PrimeBit. As you can see in the chart above the commodity prices have skyrocketed since mid-August from $62 per barrel to $82. You probably noticed it in your local gas station. Some analysts believe that the price may break $100 or even $150 soon.
Oil prices are causing a lot of turmoil in the global economy. Watch closely the macroeconomic data as global economies are starting to recover from the COVID-19 pandemic and demand for energy grows. Crude oil prices are very volatile as the supply is controlled by OPEC.
BNB is the native token of the world’s largest cryptocurrency exchange Binance. The coin has been riding the bulls market and has gained over 48% since the end of September. The BNBUSD price rose from $331 to $490. Binance business is growing, and they are working hard on meeting regulatory requirements in many countries.
Whether you believe Bitcoin is going to crash all-time highs soon or will drop bouncing off the resistance, BNB contracts may be a good option for you. Binance Coin may overtake the BTC gains if the upmarket continues, however, if cryptos are to crash once again, BNB should speed down in a hurry.
Watch closely the crypto-related news, as the first Bitcoin ETF futures have just started trading on NYSE.
BABA.US opened high on Tuesday and is trading closely to $173 at the moment. This is a continuation of a two-week-long uptrend. Before October 5 Alibaba Group stockholders have had a rough time. The shares fell almost 60% since November 2020, despite S&P 500 going steadily up.
Alibaba’s recovery may not last long as the Chinese government is considering a new set of eCommerce regulatory changes. Watch this news closely this week and make your call. Whether you decide to buy or short BABA.US, one thing is certain – these stocks will show some great trading opportunities this week.