Technical Analysis with Candlestick Charts – 15 December 2021

Technical Analysis with Candlestick Charts – 15 December 2021

Technical Analysis

Asia Pacific stocks were mostly down on Wednesday morning. The Shanghai composite is down 0.13% at 3,656.57. Overall, the Singapore MSCI down 0.81% at 336.00. Over in Hong Kong, the Hang Seng Index up 0.21% at 23,648.00. In Japan, the Nikkei 225 up 0.21% at 28,400.00, while the Topix index is up 0.53% at 1980.5. South Korea’s Kospi down 0.06% to 2986.09. Australia S&P/ASX 200 down 0.70% at 7327.1.

European equities Tuesday closing. The DAX futures contract in Germany traded down 1.08% at 15453.56, CAC 40 futures down 0.69% at 6895.32 and the UK 100 futures contract in the U.K. down 0.18% at 7,218.64.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.30% at 35544.19. The S&P 500 down 0.75% at 4634.10 and the Nasdaq 100 down 1.04% at 15914.90, NYSE closes down 0.40% at 16652.58.

In the Forex market, GBPUSD up 0.15% at 1.3244. The USDJPY flat at 113.71. The USDCHF up 0.03% at 0.9235. EURUSD up 0.11% at 1.1271, EUR/GBP up 0.01% at 0.85098. The USD/CNY down 0.05% at 6.3637 at the time of writing.

In the commodity market U.S. Gold futures down 0.07% at $1,769.24. Elsewhere, Silver futures flat at $21.923 per ounce, Platinum down 0.54% at $914.00 per ounce, and Palladium flat at $1624.50.

Crude Oil down on Wednesday; Brent crude oil down 0.49% at $72.88 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.34% at $70.57.

In the Cryptocurrency Markets, Bitcoin at 48193.78 down 0.41%, Ethereum up 0.12% at 3867.27, Litecoin at 151.24 up 0.55%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Nucor Corp. up 2.484% at $118.42, Comcast Corp. up 2.101% at $48.76, Adobe Inc. down 6.599% to $614.86, MSCI Inc. down 4.936% to $591.07, Microsoft Corp. down 3.259% to $328.34, Workday Inc. down 2.695% at $273.35.

Economic news:

US: U.S. Vice President Kamala Harris and Treasury Secretary Janet Yellen on Tuesday announced more than $8.7 billion in capital investments in community development financial institutions and minority-owned banking firms to boost lending in disadvantaged areas, the Treasury said.

The capital allocation for 186 institutions is part of $12 billion in funding provided for CDFIs and minority banks that was included in coronavirus relief legislation passed at the end of 2020.

Harris had helped author the lending provision as a senator and it was signed into law by former president Donald Trump.

“We know that the communities hurt most by COVID-19 have often been communities of color, and Treasury has implemented relief legislation with equity in mind,” Yellen said in a statement.

The investment follows an initial allocation of $1.25 billion from the COVID-19 relief funds to 863 community lenders in June.

Eurozone: Euro zone industrial production rose as expected in October, data showed on Tuesday, with capital and durable consumer goods up the most on the month and non-durable goods output in the lead year-on-year, amid continued economic recovery.

The European Union’s statistics office Eurostat said industrial production in the 19 countries sharing the euro rose 1.1% month-on-month in October for a 3.3% year-on-year gain.

Economists polled by Reuters had expected a 1.2% monthly rise and a 3.2% annual increase.

Eurostat said that measured against September, industrial output of capital goods, used in investment, rebounded 3.0% after falls in August and September. Year-on-year capital goods production rose 5.2%.

Durable consumer goods were also sharply higher, rising 1.7% on the month and 2.3% on the year, while non-durable consumer goods output was 6.9% higher than a year earlier, continuing a trend of strong gains in previous months.

Important Data: UK CPI (YoY) (Nov) today at 2:00 this time estimated 4.7%, previously which was 4.2%. US Core Retail Sales (MoM) (Nov) at 8:30 this time estimated 0.9%, previously which was 1.7%. CANADA Core CPI (MoM) (Nov) today at 8:30 previously which was 0.6%. US Crude Oil Inventories today at 10:30 this time estimated -2.082M, previously which was -0.240M.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.32399, TAKE PROFIT AT 1.32050 AND STOP LOSS AT 1.32840

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.12723, TAKE PROFIT AT 1.12510 AND STOP LOSS AT 1.13000

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 150.529, TAKE PROFIT AT 150.018 AND STOP LOSS AT 150.772

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 123.018, TAKE PROFIT AT 122.726 AND STOP LOSS AT 123.335.

DOW JONES

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 35522.00 TAKE PROFIT AT 35376.00 AND STOP LOSS AT 35673.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 69.49 TAKE PROFIT AT 68.30 AND STOP LOSS AT 70.35

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1767.99, TAKE PROFIT AT 1758.56 AND STOP AT 1774.40

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 3857.24 TAKE PROFIT AT 3733.31 AND STOP AT 3958.07

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