Daily Market Report: November 18, 2020
Today’s events & figures – Trade what you know Financial markets feed into world events and are their direct consequence. Keep a daily eye on our roundup of the day’s news, numbers and announcements.
November 18, 2020
Mid-Week Market Moves
U.S. stocks were lower after the close on Tuesday, as losses in the Utilities, Healthcare and Basic Materials sectors pushed the market down. At the close in NYSE, the Dow Jones Industrial Average fell 0.65%, while the S&P 500 index lost 0.55%, and the NASDAQ Composite index declined 0.27%.
The NASDAQ 100 RSI is mixed to bullish.
Long positions above 11,780.00 with targets at 12,045.00 & 12,270.00 in extension.
Below 11,780.00, look for further downside with 11,570.00 & 11,360.00 as targets.
Walmart fell 2% despite reporting earnings and revenue that topped consensus estimates, led by ongoing strength in its e-commerce business.
The RSI is above its neutrality area at 50.
The upside prevails as long as 145.7 is support.
Below 145.7, expect 141.3 and 138.6.
Gold futures logged their first loss in four sessions on Tuesday. Prices eased back from recent gains after failing to breach the key $1,900-an-ounce mark.
As long as 1891.00 is resistance, look for choppy price action with a bearish bias.
Short positions below 1891.00 with targets at 1872.00 & 1864.00 in extension.
Above 1891.00, look for further upside with 1899.00 & 1905.00 as targets.
Crude Oil WTI Futures, the U.S. benchmark for oil slipped 0.3% after settling 0.2% higher at $41.43 per barrel.
The RSI is mixed with a bullish bias.
Long positions above 40.85 with targets at 41.70 & 42.10 in extension.
Below 40.85, look for further downside with 40.55 & 40.05 as targets.
The EUR/USD pair hit a weekly high of 1.1893, losing momentum during US trading hours, to settle in the current 1.1860 price zone.
The RSI calls for a drop.
Long positions above 1.1880 with targets at 1.1895 & 1.1910 in extension.
Below 1.1880, look for further downside with 1.1840 & 1.1825 as targets.
The Sterling accelerated its rebound from a low last week at 1.3100 and returned above 1.3200 and reached a record high at 1.3270.
The RSI calls for a bounce.
Long positions above 1.3220 with targets at 1.3290 & 1.3310 in extension.
Below 1.3220, look for further downside with 1.3195 & 1.3165 as targets.
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