Technical Analysis with Candlestick Charts – 19 November 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 19 November 2021

Asia Pacific stocks were mostly up on Friday morning. The Shanghai composite is up 1.06% at 3,558.15. Overall, the Singapore MSCI down 0.16% at 366.20. Over in Hong Kong, the Hang Seng Index down 1.49% at 24,778.00. In Japan, the Nikkei 225 up 0.61% at 29,750.00, while the Topix index is up 0.64% at 2045.0. South Korea’s Kospi up 0.80% to 2970.96. Australia S&P/ASX 200 up 0.23% at 7396.5.

European equities Thursday closing. The DAX futures contract in Germany traded down 0.18% at 16221.73, CAC 40 futures down 0.21% at 7141.99 and the UK 100 futures contract in the U.K. down 0.48% at 7,255.97.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.17% at 35870.96. The S&P 500 up 0.34% at 4704.55 and the Nasdaq 100 up 1.07% at 16482.97, NYSE closes down 0.44% at 17117.74.

In the Forex market, GBPUSD up 0.02% at 1.3494. The USDJPY up 0.07% at 114.328. The USDCHF up 0.17% at 0.9262. EURUSD down 0.15% at 1.1354, EUR/GBP down 0.08% at 0.84131. The USD/CNY down 0.02% at 6.3839 at the time of writing.

In the commodity market U.S. Gold futures up 0.14% at $1,861.12. Elsewhere, Silver futures up 0.24% to $24.854 per ounce, Platinum up 1.02% at $1058.60 per ounce, and Palladium up 0.49% at $2144.00.

Crude Oil up on Friday; Brent crude oil up 1.20% at $82.03 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.20% at $81.40.

In the Cryptocurrency Markets, Bitcoin at 56378.73 down 0.95%, Ethereum up 1.67% at 4066.71, Litecoin at 207.83 up 1.70%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

NVIDIA Corp. up 8.25% at $316.75, Gap Inc. up 4.377% at $24.8, Moderna Inc. up 3.79% to $251.41, Apple Inc. up 2.854% to $157.87, Twitter Inc. down 3.972% to $48.60, General Motors Co. down 3.529% at $62.33.

Economic news:

US: The vote on U.S. President Joe Biden’s $1.75 trillion social spending bill has been delayed until Friday in the House of Representatives, after Republican House Minority Leader Kevin McCarthy gave an hours-long, circuitous speech.

The vote was originally scheduled for Thursday evening after the Congressional Budget Office (CBO), a nonpartisan arbiter, released a cost assessment of the bill, which several moderate Democrats said they needed before they would vote.

But the vote was delayed until 8 a.m. (1300 GMT) on Friday after McCarthy spoke – and often seemed to stray – from a thick binder of prepared remarks for more than four hours, at times shouting over Democrats in the House who were openly dismissive of his obstruction.

Democrats in the House were attempting to advance Biden’s $1.75 trillion domestic investment bill, despite the CBO’s finding that it would add to the deficit.

“I’ve had enough. America has had enough,” McCarthy said in his speech that catalogued a list of Republican grievances, some related to the bill and some not.

Eurozone: People in Britain turned more confident this month despite worries about inflation and they were more willing to purchase expensive items, according to a survey that will be welcome news to retailers preparing for the Christmas season.

The GfK Consumer Confidence Index rose for the first time in four months to -14 in November from -17 in October which was its lowest level since an early-2021 coronavirus lockdown.

A Reuters poll of economists had pointed to further deterioration this month to -18.

Joe Staton, GfK’s client strategy director, said views on the economy had improved despite rising inflation and the prospect of higher interest rates although consumers were less buoyant about their personal finances.

“This weakness is important as it reflects day-to-day plans to save or spend and is a strong driver of overall UK economic growth,” Staton said.

“However, one highlight for both physical and virtual retail is the seven-point jump in major purchase intentions in the run-up to Black Friday and Christmas.”

Important Data: UK Retail Sales (MoM) (Oct) today at 2:00 this time estimated 0.5%, previously which was -0.2%. CANADA Core Retail Sales (MoM) (Sep)        at 8:30 this time estimated -1.0%, previously which was 2.8%. Germany PPI (MoM) (Oct) today at 2:00 this time estimated 1.9%, previously which was 2.3%. EURO ZONE ECB President Lagarde Speaks today at 13:00.       

TECHNICAL SUMMARY    

GBPUSD

TRADE SUGGESTION- SELL AT 1.34941, TAKE PROFIT AT 1.34680 AND STOP LOSS AT 1.35279

EURUSD

TRADE SUGGESTION- SELL AT 1.13526, TAKE PROFIT AT 1.13228 AND STOP LOSS AT 1.13712

GBPJPY

TRADE SUGGESTION- BUY AT 154.358, TAKE PROFIT AT 154.797 AND STOP LOSS AT 154.083

CHFJPY

TRADE SUGGESTION- SELL AT 123.431, TAKE PROFIT AT 123.115 AND STOP LOSS AT 123.621.

S&P 500

TRADE SUGGESTION- BUY AT 4717.77 TAKE PROFIT AT 4720.00 AND STOP LOSS AT 4715.75

WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 79.07 TAKE PROFIT AT 78.22 AND STOP LOSS AT 79.77

GOLD

TRADE SUGGESTION- BUY AT 1857.93, TAKE PROFIT AT 1869.80 AND STOP AT 1847.57

ETHEREUM

TRADE SUGGESTION- SELL AT 4045.70 TAKE PROFIT AT 3952.52 AND STOP AT 4164.91

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