Daily Market Report: January 15, 2021
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.
January 15, 2021
Delta Stock Rises Upon Gun Check-in Ban
U.S. stocks finished in the red as losses in the Technology, Consumer Goods, and Consumer Services sectors led shares lower. The Dow Jones fell by 0.22%, the S&P 500 declined by 0.38% and the NASDAQ lost 0.12% from its value.
The S&P 500 RSI is mixed to bearish.
Short positions below 3826.00 with targets at 3770.00 & 3737.00 in extension.
Above 3826.00, look for further upside with 3866.00 & 3900.00 as targets.
Delta shares rose by 2.52% after the company announced they will not allow travelers flying to Washington area airports to check firearms on its flights before the inauguration.
The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading under its 20 day moving average (40.434) but above its 50 day moving average (38.3752).
As long as 38.2 is support, look for 44.4.
The downside breakout of 38.2 would call for 36.2 and 35.
Gold slightly rose by 0.20%, despite no rate hike is expected soon according to the FED.
The RSI is mixed to bullish.
Long positions above 1840.00 with targets at 1864.00 & 1877.00 in extension.
Below 1840.00, look for further downside with 1828.00 & 1816.00 as targets.
Oil prices rose by 1.64% as oil production’s cuts by OPEC+ continues.
The RSI calls for a new upleg.
Long positions above 53.20 with targets at 53.90 & 54.50 in extension.
Below 53.20, look for further downside with 52.85 & 52.50 as targets.
The EUR/USD pair fell yesterday by 0.05% keeping levels low as investors expected the stimulus package from the new President Biden.
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Long positions above 1.2130 with targets at 1.2180 & 1.2200 in extension.
Below 1.2130, look for further downside with 1.2110 & 1.2090 as targets.
The GBP/USD rose by 0.37% as the greenback fell against the cable after the Unemployment Claims report came less than expected at 965K vs. 785K forecast.
The RSI advocates for further advance.
Long positions above 1.3655 with targets at 1.3725 & 1.3750 in extension.
Below 1.3655, look for further downside with 1.3620 & 1.3585 as targets.
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