Hong Kong celebration after landslide victory

Weekly Report - 25/11/2019

Democracy ousts pro-establishment


On Monday Hong Kong’s democrats secured a decent majority in community council elections. It was a record turn following a half year of anti-government demonstrations, raising the stress on the Chinese-controlled city’s administration to embrace the people's demand for democracy. Last Sunday’s polls signaled a unique weekend of peace after the extreme unrest, with democratic nominees achieving nearly 90% of the 452 community council positions, according to RTHK. That happened notwithstanding a heavily resourced and prepared pro-establishment opposition.

The week that was

Last Thursday Tesla's CEO, Elon Musk announced the company’s jewel, the Cybertruck. Cybertruck is an all-electric pickup, and the news emerged in one of the company’s brand events in Los Angeles. The Cybertruck will cost about $39,900 and its design adds a significant future touch. This is the sixth vehicle in tesla's stock. It will be confronting a strong market opponent especially challenging the Ford F Series, which has continued to be the best-selling pickup for more than 40 years in the U.S.


Main Focus This Week

On Sunday the popular Bitcoin fell by more than 5.2 %. Giving back almost 0.5% profit from the day before. Bitcoin finished the week weaker losing 18.4% to $6,965.1. Now a weak start for the day marked Bitcoin with another decline from a morning intraday top of $7,372.5 to a low $7,150.01. Failing to break the important resistance levels, the popular crypto Bitcoin dropped through the first significant support level to $7,200.70. A support level helped Bitcoin to retrace back to $7,300 levels before hitting reverse. The reversal marked Bitcoin with another fall to a low of $6,922. Bitcoin would require to push through to $7,070 level to sustain a series of breakouts of the first significant resistance level at $7,250.80.


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