Technical Analysis with Candlestick Charts – 29 November 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 29 November 2021

Asia Pacific stocks were mostly down on Monday morning. The Shanghai composite is down 0.44% at 3,548.75. Overall, the Singapore MSCI down 0.34% at 355.30. Over in Hong Kong, the Hang Seng Index down 1.37% at 23,752.00. In Japan, the Nikkei 225 down 1.67% at 28,310.00, while the Topix index is down 1.96% at 1950.5. South Korea’s Kospi down 0.90% to 2909.99. Australia S&P/ASX 200 down 0.54% at 7239.7.

European equities Friday closing. The DAX futures contract in Germany traded down 4.15% at 15257.04, CAC 40 futures down 4.75% at 6725.08 and the UK 100 futures contract in the U.K. down 3.64% at 7,044.04.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 2.53% at 34899.35. The S&P 500 down 2.27% at 4594.61 and the Nasdaq 100 down 2.09% at 16025.58, NYSE closes down 2.42% at 16624.87.

In the Forex market, GBPUSD up 0.02% at 1.3339. The USDJPY up 0.02% at 113.242. The USDCHF up 0.09% at 0.9250. EURUSD down 0.22% at 1.128, EUR/GBP down 0.18% at 0.8458. The USD/CNY down 0.15% at 6.383 at the time of writing.

In the commodity market U.S. Gold futures up 0.23% at $1,795.73. Elsewhere, Silver futures up 1.25% to $23.383 per ounce, Platinum up 1.82% at $969.00 per ounce, and Palladium up 2.40% at $1791.00.

Crude Oil mix on Monday; Brent crude oil up 2.91% at $74.98 per barrel while U.S. West Texas Intermediate (CLc1) is down 12.96% at $68.78.

In the Cryptocurrency Markets, Bitcoin at 57483.42 up 0.18%, Ethereum up 0.87% at 4338.18, Litecoin at 199.50 down 0.15%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Moderna Inc. up 20.571% at $329.63, Pfizer Inc. up 6.111% at $54.00, Incyte Corp. up 2.457% to $68.38, Carnival Corp. down 10.962% to $17.95, United Airlines Holdings Inc. down 9.566% to $42.26, Expedia Group Inc. down 9.482% at $159.80.

Economic news:

US: U.S. Commerce Secretary Gina Raimondo will on Monday make a pitch in Michigan for Congress to approve $52 billion to expand U.S. semiconductor manufacturing even as it continues to review data on the chips market from companies around the world.

Raimondo is visiting a United Auto Workers local hall and meeting with Michigan politicians, officials from General Motors Co (NYSE:GM), Ford Motor (NYSE:F) and Chrysler-parent Stellantis on the chips push.

Detroit’s Big Three automakers and other global automakers have been forced to cut production and even make some vehicles without features like heated seats or digital speedometers because of semiconductor shortage.

In September, the Commerce Department issued a request for information on the chips market to automakers, chip companies and others, saying the information would boost supply-chain transparency, and set a Nov. 8 deadline to respond.

Raimondo told reporters more than 150 firms “including many companies in Asia” voluntarily submitted data to the department. “We’re very pleased with the volume of response,” Raimondo said. “These are extremely detailed and we’re still evaluating the quality of the submissions.”

Eurozone: The euro zone is better equipped to face the economic impact of a new wave of COVID-19 infections or the Omicron variant, European Central Bank President Christine Lagarde said.

Several European countries have introduced restrictive measures due to a new increase in COVID-19 infections. The new coronavirus variant Omicron was detected in South Africa on Friday and has spread rapidly across Europe.

“There is an obvious concern about the economic recovery [of the euro zone] in 2022, but I believe we have learnt a lot. We now know our enemy and what measures to take. We are all better equipped to respond to a risk of a fifth wave or the Omicron variant”, Lagarde told Italian broadcaster RAI on Sunday.

Important Data: US Pending Home Sales (MoM) (Oct) today at 10:00 this time estimated 1.0%, previously which was -2.3%. AUSTRALIA Building Approvals (MoM) (Oct) at 19:30 this time estimated -2.0%, previously which was -4.3%. CHINA Manufacturing PMI (Nov) today at 20:00 this time estimated 49.6, previously which was 49.20. JAPAN Industrial Production (MoM) (Oct) today at 18:50 this time estimated 1.8%, previously which was -5.4%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.3331, TAKE PROFIT AT 1.3302 AND STOP LOSS AT 1.3355

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.12777, TAKE PROFIT AT 1.12610 AND STOP LOSS AT 1.12912

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 150.896, TAKE PROFIT AT 150.183 AND STOP LOSS AT 151.737

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 122.256, TAKE PROFIT AT 122.164 AND STOP LOSS AT 122.319.

EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 4060.00 TAKE PROFIT AT 4027.00 AND STOP LOSS AT 4086.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 71.23 TAKE PROFIT AT 69.52 AND STOP LOSS AT 73.09

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1795.27, TAKE PROFIT AT 1782.76 AND STOP AT 1805.99

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 200.69 TAKE PROFIT AT 195.31 AND STOP AT 205.75

About Author