Technical Analysis with Candlestick Charts – 09 December 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 09 December 2021

Asia Pacific stocks were mostly up on Thursday morning. The Shanghai composite is up 1.03% at 3,675.03. Overall, the Singapore MSCI up 0.88% at 348.60. Over in Hong Kong, the Hang Seng Index up 0.85% at 24,206.00. In Japan, the Nikkei 225 down 0.28% at 28,810.00, while the Topix index is down 0.65% at 1994.5. South Korea’s Kospi up 0.36% to 3012.69. Australia S&P/ASX 200 flat at 7405.1.

European equities Wednesday closing. The DAX futures contract in Germany traded down 0.80% at 15687.09, CAC 40 futures down 0.72% at 7014.57 and the UK 100 futures contract in the U.K. down 0.04% at 7,337.06.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.10% at 35754.76. The S&P 500 up 0.31% at 4701.22 and the Nasdaq 100 up 0.42% at 16394.34, NYSE closes up 0.27% at 16899.91.

In the Forex market, GBPUSD up 0.04% at 1.3208. The USDJPY down 0.02% at 113.60. The USDCHF up 0.08% at 0.9204. EURUSD down 0.06% at 1.13349, EUR/GBP down 0.06% at 0.85802. The USD/CNY flat at 6.3435 at the time of writing.

In the commodity market U.S. Gold futures up 0.17% at $1,785.78. Elsewhere, Silver futures up 0.11% to $22.435 per ounce, Platinum up 0.36% at $958.47 per ounce, and Palladium up 0.86% at $1869.00.

Crude Oil up on Thursday; Brent crude oil up 0.47% at $76.34 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.31% at $71.41.

In the Cryptocurrency Markets, Bitcoin at 49837.35 down 1.40%, Ethereum down 1.18% at 4390.07, Litecoin at 161.31 down 2.52%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Carnival Corp. up 5.514% at $19.52, ETSY Inc. up 3.601% at $246.00, Biogen Inc. up 3.478% to $234.72, PayPal Holdings Inc. up 3.314% to $197.35, Kroger Co. down 5.014% to $42.81, Kraft Heinz Co. down 3.941% at $33.15.

Economic news:

US: U.S. job openings surged in October while hiring decreased, suggesting a worsening worker shortage, which could hamper employment growth and the overall economy.

The Labor Department’s monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Wednesday also showed a steady decline in layoffs, another sign that the jobs market was tightening. While the number of people voluntarily quitting their jobs fell, it remained quite high.

“Under normal circumstances, a near record number of job openings would be something worth celebrating,” said Jennifer Lee, a senior economist at BMO Capital Markets in Toronto. “But no employer is in a celebratory mood. It is difficult to fill orders or meet customer demands if there are not enough people to do the actual work.”

Job openings, a measure of labor demand, increased by 431,000 to 11.0 million on the last day of October. This was the second-highest on record. Economists polled by Reuters had forecast 10.4 million vacancies.

Eurozone: British trade minister Anne-Marie Trevelyan on Wednesday said she had invited U.S. Commerce Secretary Gina Raimondo to visit London in January to make progress on removing U.S. tariffs on steel and aluminium and the threat of UK retaliatory tariffs.

Trevelyan and Raimondo met in Washington on Wednesday, following the UK minister’s meeting with U.S. Trade Representative Katherine Tai on Tuesday.

In a joint statement after the meeting, Britain and the United States said the two officials discussed “finding a path early in the new year … to engage expeditiously in consultations on steel and aluminum, with a view to combating global excess capacity and addressing outstanding concerns on U.S. tariffs and UK countermeasures.”

Resolving the dispute would benefit workers and businesses on both sides of the Atlantic, and “would remove the need for the UK to levy retaliatory tariffs on U.S. goods,” Trevelyan said in a separate statement issued by the British embassy.

She said she hoped Raimondo’s visit would allow the two allies make progress on the steel and aluminium tariffs and ” focus on taking our thriving trading relationship to the next level.”

Important Data: US Initial Jobless Claims today at 8:30 this time estimated 215K, previously which was 222K. NEW ZEALAND Electronic Card Retail Sales (MoM) (Nov) at 16:45 previously which was 10.1%. GERMANY German Trade Balance (Oct) today at 2:00 this time estimated 13.4B, previously which was 13.2B. JAPAN PPI (MoM) (Nov) today at 18:50 this time estimated 0.3%, previously which was

-1.2%.         

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.32043, TAKE PROFIT AT 1.31905 AND STOP LOSS AT 1.32191

EURUSD

TRADE SUGGESTION- BUY AT 1.13298, TAKE PROFIT AT 1.13559 AND STOP LOSS AT 1.13094

EURGBP

TRADE SUGGESTION- BUY AT 0.85773, TAKE PROFIT AT 0.85993 AND STOP LOSS AT 0.85626

EURJPY

TRADE SUGGESTION- BUY AT 128.779, TAKE PROFIT AT 129.045 AND STOP LOSS AT 128.526.

HANG SENG

TRADE SUGGESTION- BUY AT 24226 TAKE PROFIT AT 24432 AND STOP LOSS AT 24040

WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 72.89 TAKE PROFIT AT 73.66 AND STOP LOSS AT 71.90

GOLD

TRADE SUGGESTION- SELL AT 1785.15, TAKE PROFIT AT 1778.08 AND STOP AT 1797.28

ETEHREUM

TRADE SUGGESTION- BUY AT 4376.71 TAKE PROFIT AT 4437.42 AND STOP AT 4281.27

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