Daily Market Report: June 15, 2022

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

US stcoks mixed; Gold down

US Stock Market

Last: 3,723

Pivot: 3,837

Review:

US stocks were mixed after the close on Tuesday, as gains in the technology, oil and gas and Industrials sectors led shares higher while losses in the utilities, healthcare and telecoms sectors led shares lower. At the close in the NYSE, the Dow Jones Industrial Average fell 0.50% to hit a new 52-week low, while the S&P 500 index lost 0.38%, and the NASDAQ Composite index added 0.18%.

Technical comment:

The RSI has broken down its 30 level.

Preference scenario:

For short positions below 3837.00, discover new targets at 3660.00 and 3606.00 in extension.

Alternative scenario:

If the price climbs above 3837.00, look for a further upside with 3900.00 and 3975.00 as targets.

Resistance 3,837 3,900 3,975
Support 3,660 3,606 3,500
US stcoks mixed; Gold down
USD/CAD

Last: 1.2938

Pivot: 1.291

Review:

The loonie was trading 0.7% lower at 1.2785 to the greenback, or 78.22 US cents, as the US dollar surged against a basket of major currencies.

Technical comment:

Intraday technical indicators are mixed and call for caution.

Preference scenario:

For long positions above 1.2910, check out targets at 1.2970 and 1.3000 in extension.

Alternative scenario:

Should the rate drop below 1.2910, look for a further downside with 1.2885 and 1.2865 as targets.

Resistance 1.297 1.3 1.302
Support 1.291 1.2885 1.2865
US stcoks mixed; Gold down
Oil

Last: 119.36

Pivot: 120.1

Review:

US crude futures traded 0.9% higher at the rate of $122.03 a barrel.

Technical comment:

Intraday technical indicators are mixed and call for caution.

Preference scenario:

Should the rate slide below 120.10, look for targets at 118.00 and 116.60 in extension.

Alternative scenario:

If the price moves above 120.10, look for a further upside with 121.10 and 121.90 as targets.

Resistance 120.1 121.1 121.9
Support 118 116.6 115.2
US stcoks mixed; Gold down
Gold

Last: 1,816.78

Pivot: 1,822

Review:

Spot gold slipped 0.53% to to the rate of 1,809.40 an ounce.

Technical comment:

Intraday technical indicators are mixed and call for caution.

Preference scenario:

If the price falls below 1822.00, find new targets at 1805.00 and 1795.00 in extension.

Alternative scenario:

If the rate increases above 1822.00, look for a further upside with 1833.00 and 1845.00 as targets.

Resistance 1,822 1,833 1,845
Support 1,805 1,795 1,786
US stcoks mixed; Gold down
EUR/USD

Last: 1.0439

Pivot: 1.0405

Review:

EUR/USD traded 0.6% higher at the price of 1.0470.

Technical comment:

The RSI advocates for further upside.

Preference scenario:

In the event of a rate rise above 1.0405, with targets at 1.0475 and 1.0495 in extension.

Alternative scenario:

Should the rate drop below 1.0405, look for a further downside with 1.0380 and 1.0360 as targets.

Resistance 1.0475 1.0495 1.052
Support 1.0405 1.038 1.036
US stcoks mixed; Gold down
GBP/USD

Last: 1.2033

Pivot: 1.1985

Review:

The Bank of England's willingness to combat inflation with steeper rate hikes isn't particularly strong as the central bank's hands are tied by a weakening economy. GBP/USD fell 1.17% to $1.1194.

Technical comment:

The RSI calls for a rebound.

Preference scenario:

long positions above 1.1985 with targets at 1.2070 & 1.2110 in extension.

Alternative scenario:

If the price dips below 1.1985, look for a further downside with 1.1960 and 1.1930 as targets

Resistance 1.207 1.211 1.215
Support 1.1985 1.196 1.193
US stcoks mixed; Gold down

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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