Technical Analysis with Candlestick Charts – 24 December 2021

Technical Analysis with Candlestick Charts – 24 December 2021

Technical Analysis

Asia Pacific stocks were mostly up on Friday morning. The Shanghai composite is down 0.66% at 3,619.15. Overall, the Singapore MSCI up 0.25% at 336.25. Over in Hong Kong, the Hang Seng Index up 0.06% at 23,223.00. In Japan, the Nikkei 225 flat at 28,710.00, while the Topix index is down 0.18% at 1981.5. South Korea’s Kospi up 0.48% to 3012.43. Australia S&P/ASX 200 up 0.44% at 7420.3.

European equities Thursday closing. The DAX futures contract in Germany traded up 1.04% at 15756.31, CAC 40 futures up 0.77% at 7106.16 and the UK 100 futures contract in the U.K. up 0.43% at 7,373.35.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.55% at 35950.57. The S&P 500 up 0.62% at 4725.78 and the Nasdaq 100 up 0.79% at 16308.21, NYSE closes up 0.52% at 16963.44.

In the Forex market, GBPUSD down 0.10% at 1.33956. The USDJPY up 0.01% at 114.393. The USDCHF down 0.03% at 0.91717. EURUSD up 0.06% at 1.13304, EUR/GBP up 0.10% at 0.84531. The USD/CNY flat at 6.3668 at the time of writing.

In the commodity market U.S. Gold futures down 0.03% at $1,808.00. Elsewhere, Silver futures down 0.05% at $22.870 per ounce, Platinum down 0.05% at $970.50 per ounce, and Palladium up 3.18% at $1948.50.

Crude Oil mix on Friday; Brent crude oil down 0.44% at $76.42 per barrel while U.S. West Texas Intermediate (CLc1) is up 5.31% at $74.59.

In the Cryptocurrency Markets, Bitcoin at 50986.47 up 0.27%, Ethereum down 0.43% at 4096.30, Litecoin at 164.00 up 0.32%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Tesla Inc. up 5.762% at $1,067.00, Micron Technology Inc. up 4.516% at $94.42, Discovery Inc. up 3.343% to $24.42, Pfizer Inc. down 1.411% to $58.71, Carmax Inc. down 1.22% to $126.31, Hess Corp. down 0.837% at $73.49.

Economic news:

US: U.S. consumers took a breather in November a month after a holiday spending surge, but that pause risks becoming more lasting if Americans pull back when faced with both the fastest inflation in decades and the omicron variant.

Purchases of goods and services, after adjusting for higher prices, were little changed following a solid 0.7% gain in October. The government’s figures were the marquee of a pre-holiday burst of economic reports Thursday that showed stronger orders for durable goods, increased new-home sales and firmer consumer sentiment.

Underlying the spending figures are a series of crosscurrents. Buffeted by headlines about snarled supply chains, many Americans started their holiday shopping earlier than usual this year, helping to explain the strong advance in the prior month.

But consumers are also facing the fastest inflation in decades. With every trip to the grocery store and gas pump eating away a little more of their paychecks, people have less left over for discretionary purchases. And the new omicron variant of Covid-19 threatens to curb the incipient rebound in outlays for services.

Eurozone: British car manufacturers had their slowest November in 37 years as the sector struggled to cope with the impact of the coronavirus pandemic on global supply chains, industry data showed on Thursday.

Car production fell by 28.7% compared with November 2021 to 75,756 units, despite a 53% increase in electric vehicle output, the Society of Motor Manufacturers and Traders (SMMT) said.

It was the fifth consecutive month of decline and represented the worst November performance since 1984.

Some of the fall was due to the permanent closure of a Honda’s car factory in July but SMMT Chief Executive Mike Hawes said the figures were “incredibly worrying” and underscored the severity of the industry’s situation.

It the first 11 months of 2021, British car production of just under 800,000 units was down by 433,000 compared with 2019, before the pandemic hit.

Important Data: JAPAN Construction Orders (YoY) (Nov) today previously which was 2.1%. JAPAN Housing Starts (YoY) (Nov) this time estimated 7.1%, previously which was 10.4%. SINGAPORE Industrial Production (MoM) (Nov) today this time estimated -0.4%, previously which was 2.4%. SINGAPORE Industrial Production (YoY) (Nov) today this time estimated 13.4%, previously which was 17.0%.

TECHNICAL REPORT

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.3394, TAKE PROFIT AT 1.3427 AND STOP LOSS AT 1.3359

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.13287, TAKE PROFIT AT 1.13533 AND STOP LOSS AT 1.13102

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 114.339, TAKE PROFIT AT 114.561 AND STOP LOSS AT 114.184

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.91708, TAKE PROFIT AT 0.91495 AND STOP LOSS AT 0.91946.

NIKKEI 225

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 28825.00 TAKE PROFIT AT 29094.00 AND STOP LOSS AT 28526.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 73.59 TAKE PROFIT AT 74.93 AND STOP LOSS AT 72.73

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1808.66, TAKE PROFIT AT 1813.71 AND STOP AT 1804.29

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 51100.00 TAKE PROFIT AT 51154.97 AND STOP AT 51022.57

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