Daily Market Report: November 30, 2021

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

Oil and gold up; US stocks higher

US Stock Market

Last: 35,225

Pivot: 34,745

Review:

US stocks were higher after the close on Monday, as gains in the technology, consumer goods and utilities sectors led shares higher. At the close in the NYSE, the Dow Jones Industrial Average gained 0.68%, while the S&P 500 index gained 1.32%, and the NASDAQ Composite index gained 1.88%.

Technical comment:

The Dow Jones RSI is below its neutrality area at 50% but reversing up.

Preference scenario:

For long positions above 34745, look for new targets at 35820 and 36300 in extension.

Alternative scenario:

Should the price fall below 34745, look for a further downside with 34440 and 34110 as targets.

Resistance 35,820 36,300 36,560
Support 34,745 34,440 34,110
Oil and gold up; US stocks higher
USD/CAD

Last: 1.2734

Pivot: 1.2775

Review:

USD/CAD flirted with last Friday’s multi-week highs close to 1.2800 in earlier trade, but the pair has since backed off and is now trading around the 1.2760 mark.

Technical comment:

The RSI lacks upward momentum.

Preference scenario:

If the price decreases below 1.2775, look for targets at 1.2715 and 1.2680 in extension.

Alternative scenario:

In the event of a price climb above 1.2775, look for a further upside with 1.2795 and 1.2820 as targets.

Resistance 1.2775 1.2795 1.282
Support 1.2715 1.268 1.2645
Oil and gold up; US stocks higher
Gold

Last: 1,788.87

Pivot: 1,794

Review:

Gold futures were up 0.29% to the rate of $1,790.30.

Technical comment:

The RSI is mixed with a bearish bias.

Preference scenario:

For short positions below 1794.00, seek new targets at 1779.00 and 1772.00 in extension.

Alternative scenario:

In the case of a upward movement above 1794.00, look for a further upside with 1802.00 and 1809.00 as targets.

Resistance 1,794 1,802 1,809
Support 1,779 1,772 1,765
Oil and gold up; US stocks higher
Oil

Last: 71.56

Pivot: 68.85

Review:

U.S. crude jumped 1.43% to $70.95 a barrel.

Technical comment:

Below 68.85 look for further downside with 67.40 & 66.00 as targets.

Preference scenario:

In the event of an upside breakout above 68.85, the next targets could be found at 72.90 and 74.25 in extension.

Alternative scenario:

In this scenario, the RSI calls for a bounce.

Resistance 72.9 74.25 75.25
Support 68.85 67.4 66
Oil and gold up; US stocks higher
EUR/USD

Last: 1.1303

Pivot: 1.1275

Review:

The EUR/USD pair hovers near its daily low at 1.1257, as demand for the greenback picked up pace during US trading hours.

Technical comment:

The RSI advocates for further upside.

Preference scenario:

Should the price surpass the rate of 1.1275, with targets at 1.1330 and 1.1345 in extension.

Alternative scenario:

If the price drops below 1.1275, look for a further downside with 1.1260 and 1.1245 as targets.

Resistance 1.133 1.1345 1.136
Support 1.1275 1.126 1.1245
Oil and gold up; US stocks higher
GBP/USD

Last: 1.3326

Pivot: 1.33

Review:

Sterling has been under pressure during US trading hours, pulling back from earlier session highs above 1.3350 to fresh session lows under 1.3300.

Technical comment:

The RSI calls for a new upleg.

Preference scenario:

For long positions above 1.3300, look for new targets at 1.3340 and 1.3360 in extension.

Alternative scenario:

Should the rate dip below 1.3300, look for a further downside with 1.3285 and 1.3275 as targets.

Resistance 1.334 1.336 1.338
Support 1.33 1.3285 1.3275
Oil and gold up; US stocks higher

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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