Daily Market Report: November 25, 2021

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

Gold up; Oil markets dipped

US Stock Market

Last: 16,367

Pivot: 16,255

Review:

The S&P 500 rose 0.23%, but had been down nearly 1% intraday. The Dow Jones Industrial Average was down 0.03, or 9 points, and the Nasdaq gained 0.44%.

Technical comment:

The RSI is mixed to bullish.

Preference scenario:

A buy opportunity could emerge if the price rises above 16255.00, with targets at 16490.00 and 16600.00 in extension.

Alternative scenario:

In the case of a price drop below 16255.00, look for a further downside with 16100.00 and 16000.00 as targets.

Resistance 16,490 16,600 16,740
Support 16,255 16,100 16,000
Gold up; Oil markets dipped
USD/CAD

Last: 1.2659

Pivot: 1.269

Review:

The USD/CAD slides from daily tops around 1.2700, down some 0.09%, trading at 1.2661.

Technical comment:

The RSI is bearish and calls for further decline.

Preference scenario:

For short positions below 1.2690, look for the next targets at 1.2630 and 1.2610 in extension.

Alternative scenario:

Should the price surpass above 1.2690, look for a further upside with 1.2710 and 1.2730 as targets.

Resistance 1.269 1.271 1.273
Support 1.263 1.261 1.258
Gold up; Oil markets dipped
Gold

Last: 1,787.8

Pivot: 1,778

Review:

Gold was up 0.54% to $1,793.45 by 12:01 AM ET (5:01 AM GMT), but remained below the $1,800 mark.

Technical comment:

The RSI calls for a rebound.

Preference scenario:

When entering into long positions above 1778.00, the next targets could be found at 1796.00 and 1802.00 in extension.

Alternative scenario:

In the event of a price decline below 1778.00, look for a further downside with 1771.00 and 1765.00 as targets.

Resistance 1,796 1,802 1,812
Support 1,778 1,771 1,765
Gold up; Oil markets dipped
Oil

Last: 78.38

Pivot: 77.7

Review:

Oil markets dipped Wednesday as traders took stock of a modest weekly build in US crude stockpiles, reported a day after the United States and several other countries announced a coordinated release of their crude reserves in a bid to cool runaway fuel prices.

Technical comment:

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

Preference scenario:

For long positions above 77.70, targets could be found at 79.20 and 80.00 in extension.

Alternative scenario:

If the price falls below 77.70, look for a further downside with 77.20 and 76.70 as targets.

Resistance 79.2 80 81
Support 77.7 77.2 76.7
Gold up; Oil markets dipped
EUR/USD

Last: 1.1202

Pivot: 1.123

Review:

EUR/USD was flat, closing at the rate of 1.1246.

Technical comment:

The RSI is below its neutrality area at 50%

Preference scenario:

A chance to sell could short positions below 1.1230 , with targets at 1.1185 and 1.1170 in extension.

Alternative scenario:

Should the rate move upwards above 1.1230, look for a further upside with 1.1245 and 1.1260 as targets.

Resistance 1.123 1.1245 1.126
Support 1.1185 1.117 1.115
Gold up; Oil markets dipped
GBP/USD

Last: 1.3329

Pivot: 1.336

Review:

GBP/USD edged 0.1% higher to the 1.3385 mark.

Technical comment:

The RSI advocates for further decline.

Preference scenario:

In the event of a price decline below 1.3360, new targets could be found at 1.3310 and 1.3290 in extension.

Alternative scenario:

In the scenario where the price rises above 1.3360, look for a further upside with 1.3375 and 1.3390 as targets.

Resistance 1.336 1.3375 1.339
Support 1.331 1.329 1.327
Gold up; Oil markets dipped

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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