Technical Analysis with Candlestick Charts – 28 February 2022

Technical Analysis with Candlestick Charts – 28 February 2022

Technical Analysis

Asia Pacific stocks were mostly down on Monday morning. The Shanghai composite is down 0.14% at 3,446.44. Overall, the Singapore MSCI down 0.92% at 329.50. Over in Hong Kong, the Hang Seng Index down 1.13% at 22,376.00. In Japan, the Nikkei 225 down 0.38% at 26,400.00, while the Topix index is down 0.13% at 1877.50. South Korea’s Kospi up 0.07% to 2677.78. Australia S&P/ASX 200 up 0.63% at 7042.00.

European equities Friday closing. The DAX futures contract in Germany traded down 3.67% at 14567.23, CAC 40 futures up 3.55% at 6752.44 and the UK 100 futures contract in the U.K. up 3.91% at 7,489.47.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 2.51% at 34058.76. The S&P 500 up 2.24% at 4384.64 and the Nasdaq 100 up 1.53% at 14189.16, NYSE closes up 2.70% at 16427.95.

In the Forex market, GBPUSD down 0.49% at 1.3343. The USDJPY up 0.08% at 115.600. The USDCHF up 0.11% at 0.9264. EURUSD down 1.13% at 1.1143, EUR/GBP down 0.52% at 0.8351. The USD/CNY down 0.09% at 6.3112 at the time of writing.

In the commodity market U.S. Gold futures up 1.16% at $1,911.06. Elsewhere, Silver futures up 0.25% at $24.300 per ounce, Platinum up 0.28% at $1058.00 per ounce, and Palladium up 5.73% at $2499.00.

Crude Oil up on Monday; Brent crude oil up 4.79% at $103.11 per barrel while U.S. West Texas Intermediate (CLc1) up 5.52% at $96.43.

In the Cryptocurrency Markets, Bitcoin is at 37855.40 up 0.38%, Ethereum down 0.15% at 2614.00 Litecoin at 103.13 up 0.02%, at the time of writing.

TOP STOCKS TO WATCH OUT FOR TODAY:

ETSY Inc. up 16.214% at $148.94, Mosaic Co. up 9.217% at $49.53, Nucor Corp. up 7.568% to $130.05, Signature Bank up 7.458% at $349.99, Moderna Inc. down 3.136% to $151.33, eBay Inc. down 1.515% at $54.60.

Economic news:

US: Western sanctions on Moscow could throw the small but lucrative Russian investment banking business that several large U.S. banks have maintained into question, lawyers said, which could deal a hit to tens of millions of dollars in fees.

Major U.S. banks, including JPMorgan Chase & Co (NYSE: JPM), Morgan Stanley (NYSE: MS), and Citigroup Inc (NYSE: C), have continued to underwrite and advise on Russian deals, often alongside the investment banking arm of state-owned VTB. VTB Capital is the largest investment bank by fees in Russia.

But U.S. sanctions placed on Thursday on VTB and Sberbank in the wake of Russia’s invasion of Ukraine make the prospect of doing so in the future difficult, lawyers said. That’s only been compounded by the moves to block certain Russian banks’ access to the SWIFT international payment system, announced Saturday.

Under the U.S. sanctions, any assets of VTB, including 20 subsidiaries, that touched the U.S financial system would be frozen and U.S. persons would be prohibited from dealing with them.

Eurozone: Several European subsidiaries of Sberbank Russia, majority-owned by the Russian government, are failing or likely to fail due to the reputational cost of the war in Ukraine, the European Central Bank, the lenders’ supervisor, said on Monday.

Sberbank Europe AG, which had total assets of 13.64 billion euros ($15.3 billion) at the end of last year, along with its Croatian and Slovenian units, suffered a rapid deposit outflow in recent days and is likely to fail to pay its debts or other liabilities, the ECB said.

Europe’s Single Resolution Board has enforced a payment moratorium at the three banks and will now assess whether it was in the public interest to save the lenders.

“Sberbank Europe AG and its subsidiaries experienced significant deposit outflows as a result of the reputational impact of geopolitical tensions,” the ECB said in a statement.

“This led to a deterioration of its liquidity position,” the ECB added. “There are no available measures with a realistic chance of restoring this position at group level and in each of its subsidiaries within the banking union.”

Important Data: JAPAN Industrial Production (MoM) (Jan) today at 18:50 this time estimated -0.70%, previously which was 1.00%. JAPAN Retail Sales (YoY) (Jan) today at 18:50 this time estimated 1.4%, previously which was 1.2%. AUSTRALIA Company Gross Operating Profits (QoQ) (Q4) today at 19:30 this time estimated 3.0%, previously which was 4.0%. AUSTRALIA Retail Sales (MoM) (Jan) today at 19:30 this time estimated 0.4%, previously which was -4.4%. NEW ZEALAND ANZ Business Confidence (Feb) today at 19:00 previously which was -23.20.

Technical Summary

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.33471, TAKE PROFIT AT 1.32842 AND STOP LOSS AT 1.33842

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.1147, TAKE PROFIT AT 1.1135 AND STOP LOSS AT 1.1161

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.8346, TAKE PROFIT AT 0.8334 AND STOP LOSS AT 0.8360

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 128.775, TAKE PROFIT AT 128.321 AND STOP LOSS AT 129.110

EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 3829.00 TAKE PROFIT AT 3801.00 AND STOP LOSS AT 3852.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 96.48 TAKE PROFIT AT 96.85 AND STOP LOSS AT 96.34

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1908.55, TAKE PROFIT AT 1920.68 AND STOP AT 1903.80

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 101.669 TAKE PROFIT AT 95.384 AND STOP AT 112.826

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