Financial Technology (Fintech) refers to the technologies used and applied in the financial services sector. During the last decade, due to technological innovations, fintech firms are disrupting traditional financial services sectors in retail banking, investment, mobile payments, loans, fund-raising and asset management. Fintech is also changing customer behavior and expectations as they are now able to access data and information anywhere and everywhere.
The energy sector ranked the last in sector performances in 2017. In June 2017, crude oil traded at a low of $42.37 per barrel and many analysts expected lower prices with a target of $40 or lower as energy market sentiment has been bearish. Crude oil turned bullish in August 2017, when it broke a pattern of lower lows and lower highs by failing to take out the June low.
The re-awakening of Artificial Intelligence and constant technological advancements have given a rebirth of robotics in the recent years. An open-source based Robotics Operating System supported by Google (GOOG) has changed the robotics field for everyone to build faster and lower-cost robotics applications, machinery in new start-up companies. Exploitation of new Graphical Processing Units has enabled the existence of Big Data, computer vision, deep-learning and machine learning to further accelerate advances in both the AI and robotics fields.
While consolidating markets don’t offer obvious trends, the price balance between bulls and bears leads to the bounded range in which price levels of support and resistance are formed in parallel to each other. This bounded range results in a rectangular channel pattern (or box pattern).