Technical Analysis with Candlestick Charts – 24 November 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 24 November 2021

Asia Pacific stocks were down on Wednesday morning. The Shanghai composite is up 0.16% at 3,594.89. Overall, the Singapore MSCI down 0.07% at 364.65. Over in Hong Kong, the Hang Seng Index up 1.05% at 24,823.00. In Japan, the Nikkei 225 down 1.54% at 29,330.00, while the Topix index is down 1.22% at 2020.0. South Korea’s Kospi down 0.08% to 2994.87. Australia S&P/ASX 200 down 0.15% at 7399.4.

European equities Tuesday closing. The DAX futures contract in Germany traded down 1.11% at 15937.00, CAC 40 futures down 0.85% at 7044.63 and the UK 100 futures contract in the U.K. up 0.15% at 7,266.68.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.55% at 35813.81. The S&P 500 up 0.17% at 4690.69 and the Nasdaq 100 down 0.45% at 16306.72, NYSE closes up 0.37% at 17007.90.

In the Forex market, GBPUSD up 0.03% at 1.3379. The USDJPY down 0.12% at 114.985. The USDCHF up 0.06% at 0.9337. EURUSD down 0.05% at 1.1242, EUR/GBP down 0.02% at 0.84028. The USD/CNY down 0.04% at 6.3885 at the time of writing.

In the commodity market U.S. Gold futures up 0.24% at $1,793.00. Elsewhere, Silver futures down 0.24% to $23.584 per ounce, Platinum up 1.59% at $982.37 per ounce, and Palladium up 1.39% at $1899.00.

Crude Oil up on Wednesday; Brent crude oil up 0.35% at $82.56 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.20% at $81.17b.

In the Cryptocurrency Markets, Bitcoin at 56354.97 down 2.13%, Ethereum down 2.63% at 4228.36, Litecoin at 210.19 down 2.85%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Dollar Tree Inc. up 9.166% at $144.71, Western Digital Corp. up 6.324% at $60.53,

Hess Corp. up 5.115% to $81.58, Dexcom Inc. down 4.54% to $590.00, Tesla Inc. down 4.135% to $1,109.03, eBay Inc. down 2.61% at $71.65.

Economic news:

US: Four groups of influential Democratic lawmakers urged U.S. Treasury Secretary Janet Yellen on Tuesday to back the issuance of $2 trillion in additional emergency reserves by the International Monetary Fund to help poor countries still struggling with the COVID-19 pandemic.

The chairs of the Congressional Progressive, Black, Hispanic, and Asian Pacific American Caucuses told Yellen in a letter seen by Reuters that U.S. backing for a new allocation of IMF reserves would provide needed support for hundreds of millions of people in developing countries, where vaccination rates lag far behind those in advanced economies, while underpinning global growth.

In the letter the lawmakers welcomed Yellen’s support for a $650 billion allocation of IMF Special Drawing Rights (SDRs) in August, and asked her to support a measure passed by the House of Representatives in July that called for issuance of 1.5 trillion more SDRs, valued at around $2 trillion.

Eurozone: Euro zone inflation will be higher next year than previously thought and there is a risk that price growth could stay above the ECB’s target in the medium term, European Central Bank board member Isabel Schnabel told Bloomberg in an interview.

“The risks to inflation are skewed to the upside,” she said. “It’s plausible to assume that inflation is going to drop below our target of 2% in the medium term.

“However, there could be structural shifts pointing in the other direction,” Schnabel, the head of the ECB’s market operations, said. “I don’t think we can truly tell, on the basis of today’s data, what is actually going to happen.”

Schnabel added that plans to end pandemic emergency bond buys remain valid, despite a new wave of COVID-19.

Important Data: US Core Durable Goods Orders (MoM) (Oct) today at 8:30 this time estimated 0.5%, previously which was 0.5%. US GDP (QoQ) (Q3) at 8:30 this time estimated 2.2%, previously which was 2.0%. US Initial Jobless Claims today at 8:30 this time estimated 260K, previously which was 268K. AUSTRALIA Private New Capital Expenditure (QoQ) (Q3) today at 19:30 this time estimated -2.0%, previously which was 4.4%.

TECHNICAL SUMMARY

GBPUSD Technical Analysis

Technical Analysis

TRADE SUGGESTION- SELL AT 1.33790, TAKE PROFIT AT 1.33555 AND STOP LOSS AT 1.34018

EURUSD Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.12439, TAKE PROFIT AT 1.12291 AND STOP LOSS AT 1.12607

GBPJPY Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 153.821, TAKE PROFIT AT 154.286 AND STOP LOSS AT 153.469

CHFJPY Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 123.100, TAKE PROFIT AT 122.904 AND STOP LOSS AT 123.353.

S&P 500 Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 4685.24 TAKE PROFIT AT 4698.58 AND STOP LOSS AT 4665.17

WTI CRUDE OIL Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 78.46 TAKE PROFIT AT 76.68 AND STOP LOSS AT 79.77

GOLD Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1793.33, TAKE PROFIT AT 1782.88 AND STOP AT 1805.39

BTC USD Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 56508.90 TAKE PROFIT AT 55330.65 AND STOP AT 57728.01

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