Technical Analysis with Candlestick Charts – 09 November 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 09 November 2021

Asia Pacific stocks were mostly down on Tuesday morning. The Shanghai composite is up 0.15% at 3,503.99. Overall, the Singapore MSCI down 0.73% at 373.00. Over in Hong Kong, the Hang Seng Index up 0.22% at 24,785.00. In Japan, the Nikkei 225 down 0.54% at 29,330.00, while the Topix index is down 0.57% at 2022.0. South Korea’s Kospi up 0.08% to 2962.46. Australia S&P/ASX 200 down 0.24% at 7434.2.

European equities Monday closing. The DAX futures contract in Germany traded down 0.05% at 16046.52, CAC 40 futures up 0.10% at 7047.49 and the UK 100 futures contract in the U.K. down 0.05% at 7,300.41.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.29% at 36432.23. The S&P 500 up 0.09% at 4701.69 and the Nasdaq 100 down 0.01% at 16333.0, NYSE closes up 0.40% at 17310.50.

In the Forex market, GBPUSD up 0.07% at 1.35707. The USDJPY down 0.34% at 112.829. The USDCHF down 0.05% at 0.91193. EURUSD up 0.15% at 1.16025, EUR/GBP up 0.12% at 0.85496. The USD/CNY up 0.05% at 6.3935 at the time of writing.

In the commodity market U.S. Gold futures up 0.04% at $1,824.72. Elsewhere, Silver futures down 0.18% to $24.377 per ounce, Platinum down 0.47% at $1049.00 per ounce, and Palladium down 0.82% at $2058.50.

Crude Oil mix on Tuesday; Brent crude oil down 0.18% at $83.47 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.59% at $82.27.

In the Cryptocurrency Markets, BTCUSD at 68040.07 up 0.71%, Ethereum up 0.07% at 4815.00, Litecoin at 243.41 up 6.50%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Hess Corp. up 4.676% at $86.41, Ford Motor Co. up 4.458% at $20.15, Caterpillar Inc. up 4.066% to $214.25, NVIDIA Corp. up 3.536% to $308.04, Tesla Inc. down 4.84% to $1,162.94, Nike Inc. down 3.189% at $171.85.

Economic news:

US: Big U.S. harvests, near-perfect weather for planting in Brazil and signs of slowing purchases by top buyer China are bolstering supplies of two of the top globally traded commodities: soy and corn.

The rising stocks indicate that prices for those key crops, as well as for other staples such as sugar and coffee, may have peaked after the surge sparked by the onset of the pandemic, farmers, brokers and analysts said.

Lower crop prices would be good news for consumers after global food prices soared to the highest level in a decade, according to the United Nations food agency.

Dwindling supplies and strong global demand for crops over the past 18 months drove food inflation and spurred fears of shortages.

Cheaper soy and corn would lower the cost of feeding livestock used to produce meat, which has been out of reach for many people during the COVID-19 pandemic. But falling prices could threaten farmers’ profits, especially after seed and fertilizer companies raised prices on crop inputs.

Eurozone: British shoppers picked up the pace of their spending in October despite concerns about rising inflation, according to a survey published on Tuesday.

The British Retail Consortium said retail spending rose by 1.3% compared with October 2020, recovering some momentum after growth slowed to just 0.6% in September when a lot of spending shifted away from shops to panic-buying of fuel caused by a shortage of tanker drivers.

“The much-reported squeeze on household spending has yet to materialise as consumers seem happy to carry on shopping,” said Paul Martin, UK head of retail at KPMG, which produces the data with the BRC.

Last week the Bank of England predicted rising prices would eat into consumer demand as it forecast that inflation would hit almost 5% in April next year, due in large part to post-lockdown supply chain bottlenecks and surging energy prices.

Important Data: US PPI (MoM) (Oct) today at 8:30 this time estimated 0.6%, previously which was 0.5%. AUSTRALIA Westpac Consumer Sentiment (Nov) at 18:30 previously which was -1.5%. US     API Weekly Crude Oil Stock today at 15:30 previously which was 3.594M. GERMANY ZEW Economic Sentiment (Nov) today at 5:00 this time estimated 20.0, previously which was 22.3.    

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.35689, TAKE PROFIT AT 1.35285 AND STOP LOSS AT 1.36059

EURUSD

TRADE SUGGESTION- SELL AT 1.15946, TAKE PROFIT AT 1.15809 AND STOP LOSS AT 1.16124

USDJPY

TRADE SUGGESTION- SELL AT 112.825, TAKE PROFIT AT 112.780 AND STOP LOSS AT 112.902

USDCHF

TRADE SUGGESTION- SELL AT 0.91208, TAKE PROFIT AT 0.91093 AND STOP LOSS AT 0.91436.

S&P 500

TRADE SUGGESTION- BUY AT 4686.24 TAKE PROFIT AT 4692.29 AND STOP LOSS AT 4682.81

WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 81.95 TAKE PROFIT AT 82.69 AND STOP LOSS AT 81.20

GOLD

TRADE SUGGESTION- BUY AT 1820.99, TAKE PROFIT AT 1830.86 AND STOP AT 1814.27

RIPPLE

TRADE SUGGESTION- BUY AT 1.2541 TAKE PROFIT AT 1.2661 AND STOP AT 1.2400

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