Technical Analysis with Candlestick Charts – 16 December 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 16 December 2021

Asia Pacific stocks were mixed on Thursday morning. The Shanghai composite is up 0.34% at 3,660.00. Overall, the Singapore MSCI up 0.64% at 338.35. Over in Hong Kong, the Hang Seng Index down 0.50% at 23,285.00. In Japan, the Nikkei 225 up 1.62% at 28,930.00, while the Topix index is up 1.11% at 2006.0. South Korea’s Kospi up 0.21% to 2995.81. Australia S&P/ASX 200 down 0.38% at 7299.0.

European equities Wednesday closing. The DAX futures contract in Germany traded up 0.15% at 15476.35, CAC 40 futures up 0.47% at 6927.64 and the UK 100 futures contract in the U.K. down 0.66% at 7,170.76.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 1.08% at 35927.44. The S&P 500 up 1.63% at 4709.84 and the Nasdaq 100 up 2.35% at 16289.59, NYSE closes up 0.97% at 16813.57.

In the Forex market, GBPUSD down 0.10% at 1.32452. The USDJPY up 0.11% at 114.11. The USDCHF up 0.14% at 0.92561. EURUSD flat at 1.12867, EUR/GBP up 0.14% at 0.85209. The USD/CNY flat at 6.3674 at the time of writing.

In the commodity market U.S. Gold futures up 0.25% at $1,781.13. Elsewhere, Silver futures up 0.33% at $22.118 per ounce, Platinum up 0.60% at $921.00 per ounce, and Palladium up 3.54% at $1654.00.

Crude Oil up on Thursday; Brent crude oil up 0.15% at $74.43 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.09% at $70.63.

In the Cryptocurrency Markets, Bitcoin at 48722.58 down 0.32%, Ethereum down 0.18% at 4013.34, Litecoin at 152.65 down 0.62%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

NVIDIA Corp. up 7.488% at $304.59, Fortinet Inc. up 6.643% at $336.78, ETSY Inc. up 5.27% to $229.13, Pfizer Inc. up 5.87% to $58.8, Nucor Corp. down 8.613% to $108.22, NetEase Inc. down 2.324% at $100.46.

Economic news:

US: The U.S. Senate voted overwhelmingly on Wednesday for a version of the National defence Authorization Act, or NDAA, that authorizes $770 billion in defence spending – $25 billion more than requested by President Joe Biden – sending the measure to the White House for the president’s signature.

The vote was 88-11, with strong support from both Democrats and Republicans for the annual legislation setting policy for the Department of defence. The House of Representatives passed it by 363-70 last week.

The tally had been 89-10 but Democratic Senator Cory Booker changed his vote later on Wednesday.

Biden is expected to sign the bill, but the White House did not respond to requests for comment on Wednesday.

The NDAA is closely watched by a broad swath of industry and other interests because it is one of the only major pieces of legislation that becomes law every year and because it addresses a wide range of issues.

The NDAA has become law every year for six decades.

Eurozone: British employers offered annual pay settlements of 2.2% in the three months to the end of November, up slightly from three months earlier but still well below the pace of inflation, industry data showed on Thursday.

Human resources data company XpertHR said there were signs of pay pressure with median settlements the highest since June 2020 and up from the 2.0% recorded in the three months to the end of August.

Pay freezes were much rarer than last year and the top quarter of pay awards were for a rise of at least 3%.

However, the increase is far below the 5.1% increase in consumer price inflation recorded for November and a 7.1% rise in retail price inflation which trade unions often use as a basis for wage bargaining.

Important Data: EURO ZONE Markit Composite PMI (Dec) today at 4:00 this time estimated 54.0, previously which was 55.4. UK Manufacturing PMI at 4:30 previously which was 58.1. US Initial Jobless Claims today at 8:30 this time estimated 200K, previously which was 184K. US Services PMI (Dec) today at 9:45 this time estimated 58.5, previously which was 58.0.

TECHNICAL REPORT

GBPUSD Technical Analysis

TRADE SUGGESTION- SELL AT 1.32415, TAKE PROFIT AT 1.32062 AND STOP LOSS AT 1.32840

EURUSD Technical Analysis

TRADE SUGGESTION- SELL AT 1.12831, TAKE PROFIT AT 1.12624 AND STOP LOSS AT 1.13093

USDJPY Technical Analysis

TRADE SUGGESTION- BUY AT 114.132, TAKE PROFIT AT 114.431 AND STOP LOSS AT 113.923

USDCHF Technical Analysis

TRADE SUGGESTION- BUY AT 0.9252, TAKE PROFIT AT 0.9273 AND STOP LOSS AT 0.9233.

HANG SENG Technical Analysis

TRADE SUGGESTION- SELL AT 23333.00 TAKE PROFIT AT 23219.00 AND STOP LOSS AT 23452.00

WTI CRUDE OIL Technical Analysis

TRADE SUGGESTION- BUY AT 71.43 TAKE PROFIT AT 72.80 AND STOP LOSS AT 70.35

GOLD Technical Analysis

TRADE SUGGESTION- BUY AT 1784.81, TAKE PROFIT AT 1791.12 AND STOP AT 1779.78

LITECOIN USD Technical Analysis

TRADE SUGGESTION- SELL AT 153.176 TAKE PROFIT AT 144.64 AND STOP AT 162.97

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