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. Stock Market

Last: 3,795.54

Pivot: 3,826

Review:

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.

Technical comment:

The S&P 500 RSI is mixed to bearish.

Preference scenario:

Short positions below 3826.00 with targets at 3770.00 & 3737.00 in extension.

Alternative scenario:

Above 3826.00, look for further upside with 3866.00 & 3900.00 as targets.

Resistance 3,826 3,866 3,900
Support 3,770 3,737 3,663
Delta Stock Rises Upon Gun Check-in Ban
Delta (DAL)

Last: 40.02

Pivot: 38.2

Review:

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.

Technical comment:

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).

Preference scenario:

As long as 38.2 is support, look for 44.4.

Alternative scenario:

The downside breakout of 38.2 would call for 36.2 and 35.

Resistance 44.4 45.6 46.8
Support 38.2 36.2 35
Delta Stock Rises Upon Gun Check-in Ban
Gold

Last: 1,852.40

Pivot: 1,840

Review:

Gold slightly rose by 0.20%, despite no rate hike is expected soon according to the FED.

Technical comment:

The RSI is mixed to bullish.

Preference scenario:

Long positions above 1840.00 with targets at 1864.00 & 1877.00 in extension.

Alternative scenario:

Below 1840.00, look for further downside with 1828.00 & 1816.00 as targets.

Resistance 1,864 1,877 1,894
Support 1,840 1,828 1,816
Delta Stock Rises Upon Gun Check-in Ban
Oil

Last: 53.65

Pivot: 53.20

Review:

Oil prices rose by 1.64% as oil production’s cuts by OPEC+ continues.

Technical comment:

The RSI calls for a new upleg.

Preference scenario:

Long positions above 53.20 with targets at 53.90 & 54.50 in extension.

Alternative scenario:

Below 53.20, look for further downside with 52.85 & 52.50 as targets.

Resistance 53.90 54.50 54.90
Support 53.20 52.85 52.50
Delta Stock Rises Upon Gun Check-in Ban
EUR/USD

Last: 1.2151

Pivot: 1.2130

Review:

The EUR/USD pair fell yesterday by 0.05% keeping levels low as investors expected the stimulus package from the new President Biden.

Technical comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Preference scenario:

Long positions above 1.2130 with targets at 1.2180 & 1.2200 in extension.

Alternative scenario:

Below 1.2130, look for further downside with 1.2110 & 1.2090 as targets.

Resistance 1.2180 1.2200 1.2220
Support 1.2130 1.2110 1.2090
Delta Stock Rises Upon Gun Check-in Ban
GBP/USD

Last: 1.3684

Pivot: 1.3655

Review:

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.

Technical comment:

The RSI advocates for further advance.

Preference scenario:

Long positions above 1.3655 with targets at 1.3725 & 1.3750 in extension.

Alternative scenario:

Below 1.3655, look for further downside with 1.3620 & 1.3585 as targets.

Resistance 1.3725 1.3750 1.3770
Support 1.3655 1.3620 1.3585
Delta Stock Rises Upon Gun Check-in Ban

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