Daily Market Report: January 14, 2022

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

Gold down; Oil price falls

US Stock Market

Last: 36,115

Pivot: 36,380

Review:

US stocks were lower after the close on Thursday, as losses in the technology, healthcare and consumer goods sectors led shares lower. At the close in the NYSE, the Dow Jones Industrial Average fell 0.49%, while the S&P 500 index fell 1.42%, and the NASDAQ Composite index declined 2.51%.

Technical comment:

The RSI is bearish and calls for further downside.

Preference scenario:

For short positions below 36380, seek out targets at 35880 and 35640 in extension.

Alternative scenario:

Should the rate move above 36380, look for a further upside with 36510 and 36725 as targets.

Resistance 36,380 36,510 37,150
Support 35,880 35,640 35,580
Gold down; Oil price falls
USD/CAD

Last: 1.2505

Pivot: 1.247

Review:

USD/CAD settled below the support at 1.2500 and is trying to settle below the next support at 1.2475.

Technical comment:

The RSI advocates for further upside.

Preference scenario:

For long positions above 1.2470, look for targets at 1.2540 and 1.2560 in extension.

Alternative scenario:

If there is a downside breakout below 1.2470, look for a further downside with 1.2450 and 1.2430 as targets.

Resistance 1.254 1.256 1.258
Support 1.256 1.245 1.243
Gold down; Oil price falls
Gold

Last: 1,821

Pivot: 1,828

Review:

Spot gold dropped 0.2% to the rate of $1,822.08 an ounce.

Technical comment:

As long as 1828.00 is resistance, look for choppy price action with a bearish bias.

Preference scenario:

A sell opportunity could arise if the price dips below 1828.00, with targets at 1811.00 and 1801.00 in extension.

Alternative scenario:

Should the rate surpass 1828.00, look for a further upside with 1838.00 and 1848.00 as targets.

Resistance 1,828 1,838 1,848
Support 1,811 1,801 1,791
Gold down; Oil price falls
Oil

Last: 82.41

Pivot: 82.45

Review:

US crude fell 1.36% to the rate of $81.52 per barrel.

Technical comment:

The RSI advocates for further decline.

Preference scenario:

For short positions below 82.45, check out fresh targets at 80.90 and 80.15 in extension.

Alternative scenario:

If the price climbs above 82.45, look for a further upside with 83.10 and 83.90 as targets.

Resistance 82.45 83.1 83.9
Support 80.9 80.15 79.5
Gold down; Oil price falls
EUR/USD

Last: 1.1463

Pivot: 1.1445

Review:

The EUR/USD dropped from two-month lows at 1.1481 to 1.1445, during the American session.

Technical comment:

The RSI calls for a new upleg.

Preference scenario:

For long positions above 1.1445, look for targets at 1.1480 and 1.1500 in extension.

Alternative scenario:

Should the price dip below 1.1445, look for a further downside with 1.1430 and 1.1415 as targets.

Resistance 1.148 1.15 1.152
Support 1.1445 1.143 1.1415
Gold down; Oil price falls
GBP/USD

Last: 1.3718

Pivot: 1.3700

Review:

The British pound has extended its gains for a third straight day. In the European session, GBP/USD is trading at 1.3736, up 0.23% on the day.

Technical comment:

The RSI calls for a rebound.

Preference scenario:

In the event of a price rise above 1.3700, check out targets at 1.3730 and 1.3750 in extension.

Alternative scenario:

If there is a price slide below 1.3700, look for a further downside with 1.3685 and 1.3670 as targets.

Resistance 1.373 1.375 1.377
Support 1.37 1.3685 1.367
Gold down; Oil price falls

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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