Technical Analysis with Candlestick Charts – 11 October 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 11 October 2021

Asia Pacific stocks were mostly up on Monday morning. The Shanghai composite is up 0.22% at 3,599.74. Overall, the Singapore MSCI down 0.04% at 358.20. Over in Hong Kong, the Hang Seng Index up 1.83% at 25,276.00. In Japan, the Nikkei 225 up 1.28% at 28,480.00, while the Topix index is up 1.50% at 1995.5. South Korea’s Kospi down 0.11% to 2956.30. Australia S&P/ASX 200 down 0.28% at 7299.8.

European equities Friday closing. The DAX futures contract in Germany traded down 0.29% at 15206.13, CAC 40 futures down 0.61% at 6559.99 and the UK 100 futures contract in the U.K. up 0.25% at 7,095.56.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.03% at 34746.26. The S&P 500 down 0.19% at 4391.35 and the Nasdaq 100 down 0.36% at 14765.2, NYSE closes at 16517.23 up 0.03%.

In the Forex market, GBPUSD up 0.29% at 1.36507. The USDJPY up 0.45% at 112.708. The USDCHF up 0.05% at 0.9275. EURUSD up 0.08% at 1.15805, EUR/GBP down 0.13% at 0.8482. The USD/CNY down 0.13% at 6.4351 at the time of writing.

In the commodity market U.S. Gold futures down 0.05% at $1,755.60. Elsewhere, Silver futures down 0.06% to $22.64 per ounce, Platinum up 0.78% at $1035.10 per ounce, and Palladium flat at $2078.00.

Crude Oil up on Monday; Brent crude oil up 1.14% at $83.49 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.62% at $78.97.

In the Cryptocurrency Markets, BTCUSD at 56570.47 up 3.39%, Ethereum up 2.72% at 3514.64, Litecoin at 180.35 up 3.11%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Hess Corp. up 6.626% at $89.15, Marathon Oil Corp. up 4.622% at $16.07, Devon Energy Corp. up 3.802% to $39.86, Comcast Corp. down 4.704% to $54.70, General Motors Co. up 3.774% to $58.57, ServiceNow Inc. down 3.189% at $617.58.

Economic news:

US: The United States has already lost the artificial intelligence battle to China which is heading towards global dominance because of its advances in emerging cyber capabilities, the Pentagon’s former software chief told the Financial Times.

China, the world’s second largest economy, is likely to dominate many of the key emerging technologies, particularly artificial intelligence, synthetic biology and genetics within a decade or so, according to Western intelligence assessments.

Nicolas Chaillan, the Pentagon’s first chief software officer who resigned in protest against the slow pace of technological transformation in the U.S. military, said the failure to respond was putting the United States at risk.

Eurozone: Britain is working out how to support energy-intensive industries hit by soaring gas prices, business minister Kwasi Kwarteng said on Sunday, describing the situation as critical but declining to say what action is being considered.

Producers of steel, glass, ceramics and paper and other sectors have said they may be forced to halt production unless the government does something about energy prices.

“It’s a critical situation clearly,” Kwarteng told the BBC, when asked about possible factory closures.

In a separate interview with Sky News he said: “We’ve got very, very high gas prices, very high electricity prices, we already have support in place for industries, and we’re looking at ways that we can help industry.”

Kwarteng also said he was working with finance minister Rishi Sunak on the matter.

However, a Treasury source denied there were any such talks, fuelling criticism from the opposition Labour Party about the government response.

Important Data: AUSTRALIA HIA New Home Sales (MoM) today at 20:00 previously which was 5.8%. CHINA Trade Balance (USD) (Sep) today at 23:00 this time estimated 51.05B, previously which was 58.34B. UK BRC Retail Sales Monitor (YoY) (Sep) today at 19:01 previously which was 1.5%. NEW ZEALAND Electronic Card Retail Sales (MoM) (Sep) today at 17:45 previously which was -19.8%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.36523, TAKE PROFIT AT 1.36878 AND STOP LOSS AT 1.36339

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.15733, TAKE PROFIT AT 1.15591 AND STOP LOSS AT 1.15855

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 153.992, TAKE PROFIT AT 154.483 AND STOP LOSS AT 153.436

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 121.747, TAKE PROFIT AT 122.101 AND STOP LOSS AT 121.156

NASDAQ 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 14723.99 TAKE PROFIT AT 14657.35 AND STOP LOSS AT 14789.81

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 80.00 TAKE PROFIT AT 81.09 AND STOP LOSS AT 79.44

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1755.42, TAKE PROFIT AT 1748.47 AND STOP AT 1763.63

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3575.00 TAKE PROFIT AT 3624.81 AND STOP AT 3500.68

About Author