Tesla delivered 384,122 vehicles in the second quarter, down from 443,956 a year ago but up from 336,681 in Q1. The sequential improvement signals a modest rebound, especially in China, where sales rose in June for the first time in eight months. This recovery was driven by growing demand for the updated Model Y, suggesting Tesla may be regaining traction in its most critical growth market.
While Elon Musk recently criticised Trump’s tax and spending policies, he praised him on Wednesday for helping to resolve several global conflicts. Looking ahead, Tesla appears poised for stronger performance in the second half of 2025, with deliveries expected to ramp up as the refreshed Model Y gains momentum and global demand for EVs continues to rise.
(Tesla Daily Price Chart, Source: Trading View)
From a technical analysis perspective, Tesla’s share price has been in a bullish trend since April 2025, as reflected by a series of higher highs and higher lows. However, the price was recently rejected twice from the resistance zone of 354 – 364, forming a notable double top pattern, an early sign of potential trend exhaustion.
This formation may lead to a downward move toward the swap zone of 277 – 287, where the next directional bias could be determined. If the price finds support at this level and rebounds, it could attempt another breakout above the resistance zone. Conversely, a failure to hold this zone may allow bearish momentum to take over, potentially shifting the trend back to the downside.
Bitcoin (BTCUSDT) jumped above $109,000 on Wednesday after briefly dipping to test the $105,200 support level earlier in the session. The rally came amid signs of monetary expansion in the eurozone and weakening U.S. labour market data. While there was no single, clear catalyst, the April eurozone broad money supply (M2) growth, which rose 2.7% year-over-year, could be a contributing factor. The increase aligns with a broader trend of expansionary monetary conditions also observed in the U.S., supporting the bullish case for Bitcoin.
Adding to the momentum, ADP data revealed a surprise drop of 33,000 U.S. private payrolls in June, raising concerns about the health of the labour market. Despite the sharp price rebound, some investors remain cautious, citing low demand for leveraged long positions in Bitcoin. This caution reflects broader market anxiety over rising recession risks and heightened global trade tensions, which continue to weigh on investor sentiment.
(Bitcoin Daily Price Chart, Source: Trading View)
From a technical analysis perspective, Bitcoin is currently retesting the key resistance zone of 109,000 – 111,000 at the time of writing. This area serves as a critical level for determining the next directional move. A decisive break above this zone could open the door for further upside, potentially leading to a new all-time high. Conversely, if bearish pressure regains control and prevents a breakout, a potential triple top candlestick pattern could form, which may drive the price lower.
The U.S. Non-Farm Payrolls (NFP) rose by 139,000 in May, but the figure is expected to ease to 100,000 in June. This moderation likely reflects a cooling labour market, as businesses remain cautious amid ongoing economic uncertainties and signs of slowing consumer demand.
Meanwhile, average hourly earnings increased by 0.4% month-over-month in May, but wage growth is projected to slow to 0.2% in June. This expected deceleration may be due to weakening labour demand and reduced bargaining power among workers, aligning with broader disinflationary trends. As for the unemployment rate, it stood at 4.2% in May and is expected to remain unchanged in June, suggesting a relatively stable labour market even as hiring momentum softens. These data are set to be released today at 12:30 GMT.
(Gold H4 Price Chart, Source: Trading View)
From a technical analysis perspective, gold rebounded from the support zone of 3,230 – 3,250 on Monday, collecting the previous liquidity low formed on 29 May 2025 and establishing an equal low. Recently, it then broke above the order block at 3,310 – 3,330 with strong bullish momentum, retested the zone, found support, and continued its upward move. This valid bullish structure may potentially drive the price further upward, with the next target being the resistance zone of 3,425 – 3,445.
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