Daily Market Report: November 19, 2021

Latest events and figures - make your trading smarter by following the daily summary of the hottest market news and announcements.

Oil up; US stocks mixed

U.S. Stock Market

Last: 16,461

Pivot: 16,390

Review:

US stocks were mixed after the close on Thursday, as gains in the consumer services, technology and healthcare sectors led shares higher while losses in the telecoms, utilities and ondustrials sectors led shares lower. At the close in NYSE, the Dow Jones Industrial Average fell 0.17%, while the S&P 500 index climbed 0.38%, and the NASDAQ Composite index added 0.45%.

Technical comment:

Technically the RSI is above its neutrality area at 50.

Preference scenario:

For long positions above 16390.00, look for targets at 16550.00 and 16600.00 in extension.

Alternative scenario:

Should the price dip below 16390.00, look for a further downside with 16290.00 and 16170.00 as targets.

Resistance 16,550 16,600 16,640
Support 16,390 16,290 16,170
Oil up; US stocks mixed
USD/JPY

Last: 114.37

Pivot: 114.15

Review:

USD/JPY continues to hover around the 114.00 level on Friday. At the time of press, the currency pair is trading at 114.34, up 0.07%.

Technical comment:

The RSI is bullish and calls for further upside.

Preference scenario:

A buy opportunity could arise if the price rises above 114.15, with targets at 114.50 and 114.70 in extension.

Alternative scenario:

In the event of a price decline below 114.15, look for a further downside with 114.00 and 113.85 as targets.

Resistance 114.5 114.7 114.9
Support 114.15 114 113.85
Oil up; US stocks mixed
Gold

Last: 1,858

Pivot: 1,865.5

Review:

US gold futures settled down 0.5% at $1,861.40.

Technical comment:

The RSI is mixed to bearish.

Preference scenario:

For short positions below 1865.50, look for the next targets at 1854.50 and 1848.50 in extension.

Alternative scenario:

If the price goes past 1865.50, look for a further upside with 1870.00 and 1875.00 as targets.

Resistance 1,865.5 1,870 1,875
Support 1,854.5 1,848.5 1,842
Oil up; US stocks mixed
Oil

Last: 78.2

Pivot: 77.4

Review:

US West Texas Intermediate crude futures closed 65 cents, or 0.8%, higher at $79.01.

Technical comment:

The RSI is mixed with a bullish bias.

Preference scenario:

For long positions above 77.40, the next targets could be found at 78.80 and 79.50 in extension.

Alternative scenario:

If the price slides downwards below 77.40, look for a further downside with 76.95 and 76.45 as targets.

Resistance 78.8 79.5 80.3
Support 77.4 76.95 76.45
Oil up; US stocks mixed
EUR/USD

Last: 1.1356

Pivot: 1.134

Review:

At press time, the shared currency advances 0.41%, trading at 1.1368 during the New York session, amid broad US dollar weakness.

Technical comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Preference scenario:

Should the price surpass the rate of 1.1340, seek new targets at 1.1375 and 1.1390 in extension.

Alternative scenario:

In the scenario where the price drops below 1.1340, look for a further downside with 1.1325 and 1.1310 as targets.

Resistance 1.1375 1.139 1.141
Support 1.134 1.1325 1.131
Oil up; US stocks mixed
GBP/USD

Last: 1.3489

Pivot: 1.3465

Review:

The GBP/USD pair extended its steady intraday descent through the early North American session and dropped to a fresh daily low, around the 1.3465.

Technical comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Preference scenario:

In the event of an upside breakout above 1.3465, the next targets could be found at 1.3510 and 1.3530 in extension.

Alternative scenario:

Should the price dip below 1.3465, look for a further downside with 1.3450 and 1.3430 as targets.

Resistance 1.351 1.353 1.3545
Support 1.3465 1.345 1.343
Oil up; US stocks mixed

Customer Notice: The charts are provided by Trading Central, which is a respected third party research provider. The information provided should not be considered as trading or investment advice. 1Market provides Trading Central chart analysis to support clients in their trading decisions, which should be independently evaluated. The recipient acknowledges that he is solely responsible for his decisions. The analysis offered reflects the views of Trading Central and are subject to change at any time. Past performance of a financial asset is not a reliable indicator of its future performance. 1Market cannot be held liable for any information provided by Trading Central. 1Market makes no representation and assumes no liability as to the accuracy or completeness of the information provided nor any loss arising from any investment based on this material, forecast or other information supplied by an employee of 1Market, a third party or otherwise.

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