Technical Analysis with Candlestick Charts – 02 December 2021

Technical Analysis with Candlestick Charts – 02 December 2021

Asia Pacific stocks were mixed on Thursday morning. The Shanghai composite is up 0.12% at 3,580.54. Overall, the Singapore MSCI down 1.65% at 342.75. Over in Hong Kong, the Hang Seng Index up 0.66% at 23,744.00. In Japan, the Nikkei 225 down 1.10% at 27,870.00, while the Topix index is down 1.35% at 1931.5. South Korea’s Kospi up 1.39% to 2940.09. Australia S&P/ASX 200 down 0.15% at 7225.2.

European equities Wednesday closing. The DAX futures contract in Germany traded up 2.47% at 15472.67, CAC 40 futures up 2.39% at 6881.88 and the UK 100 futures contract in the U.K. up 1.55% at 7,168.69.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.34% at 34022.05. The S&P 500 down 1.18% at 4513.03 and the Nasdaq 100 down 1.60% at 15877.72, NYSE closes down 1.13% at 16133.89.

In the Forex market, GBPUSD up 0.09% at 1.3288. The USDJPY up 0.26% at 113.05. The USDCHF up 0.22% at 0.92074. EURUSD up 0.03% at 1.13227, EUR/GBP down 0.01% at 0.85212. The USD/CNY up 0.04% at 6.3699 at the time of writing.

In the commodity market U.S. Gold futures down 0.27% at $1,776.49. Elsewhere, Silver futures up 0.16% to $22.33 per ounce, Platinum up 0.43% at $938.50 per ounce, and Palladium up 0.63% at $1755.00.

Crude Oil mix on Thursday; Brent crude oil up 1.19% at $69.76 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.82% at $66.53.

In the Cryptocurrency Markets, Bitcoin at 56776.01 down 0.83%, Ethereum down 1.06% at 4538.84, Litecoin at 203.52 down 2.49%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

NVR Inc. up 3.43% at $5,404.56, HP Inc. up 3.345% at $36.46, Western Union Co. up 2.592% to $16.23, Ford Motor Co. up 2.032% to $19.58, Moderna Inc. down 11.866% to $310.61, Carnival Corp. down 7.038% at $16.38.

Economic news:

US: Leading Democrats and Republicans in the U.S. Senate scrambled on Wednesday to head off the threat of a partial federal government shutdown posed by Republicans opposed to President Joe Biden’s COVID-19 vaccine mandates.

Congress has until midnight on Friday to pass a measure that would continue funding federal government operations during the pandemic, amid concerns about a new rise in COVID-19 cases and the arrival of the Omicron variant in the United States.

A partial government shutdown would create a political embarrassment for both parties, but especially for Biden’s Democrats who narrowly control both chambers of Congress.

Top lawmakers in the Senate and House of Representatives have yet to agree on a resolution that Congress could vote on.

Eurozone: A European business group said on Thursday that technical standards were a “new battleground” for Chinese companies and their overseas rivals and urged Beijing to “provide fair and equal treatment” for all firms involved in setting such requirements.

“While the politicisation of standardisation is in part a result of China’s own approach, it is not actually in China’s interests,” the European Chamber of Commerce in China and the Swedish Institute of International affairs said in a joint report on Thursday.

According to the Chamber, China currently is responsible for just 1.8% of international technical standards – broadly defined as frameworks for new technologies that industry players agree to abide by to ensure interconnectivity or compatibility across a vast range of products.

Yet that percentage is growing rapidly, as China is now pushing hard to boost its influence in standards-setting.

China has emerged as a new leader in standards development for certain domains, such as 5G, for which companies like Huawei Technologies Co Ltd have led many contributions to 3GPP, a global industry group for the telecom industry.

Important Data: US Initial Jobless Claims today at 8:30 this time estimated 240K, previously which was 199K. EURO ZONE Unemployment Rate (Oct) at 5:00 this time estimated 7.3%, previously which was 7.4%. JAPAN Services PMI (Nov) today at 19:30 previously which was 50.7. SWITZERLAND Retail Sales (YoY) (Oct) today at 2:30 previously which was 2.5%.

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.32857, TAKE PROFIT AT 1.32716 AND STOP LOSS AT 1.33017

EURUSD

TRADE SUGGESTION- SELL AT 1.13208, TAKE PROFIT AT 1.12877 AND STOP LOSS AT 1.13560

GBPJPY

TRADE SUGGESTION- SELL AT 150.371, TAKE PROFIT AT 149.861 AND STOP LOSS AT 150.916

CHFJPY

TRADE SUGGESTION- SELL AT 122.895, TAKE PROFIT AT 122.602 AND STOP LOSS AT 123.345.

S&P 500

TRADE SUGGESTION- SELL AT 4547.49 TAKE PROFIT AT 4515.84 AND STOP LOSS AT 4576.31

WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 66.72 TAKE PROFIT AT 65.64 AND STOP LOSS AT 67.52

GOLD

TRADE SUGGESTION- SELL AT 1776.34, TAKE PROFIT AT 1766.99 AND STOP AT 1782.04

BTCUSD

TRADE SUGGESTION- SELL AT 56849.27 TAKE PROFIT AT 55797.55 AND STOP AT 57775.67

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