Daily Market Report: January 13, 2022
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 13, 2022
US stocks up; Oil hits- 2 month highs
US stocks were higher after the close on Wednesday, as gains in the basic materials, consumer goods and technology sectors led shares higher. At the close in the NYSE, the Dow Jones Industrial Average gained 0.11%, while the S&P 500 index added 0.28%, and the NASDAQ Composite index climbed 0.23%.
The RSI calls for a new upleg.
For long positions above 15675.00, look for targets at 16150.00 and 16280.00 in extension.
If the price dips below 15675.00, look for a further downside with 15490.00 and 15200.00 as targets.
The dollar was up on Thursday morning in Asia, clawing back from new lows hit overnight.
The upward potential is likely to be limited by the resistance at 114.80.
For short positions below 114.80, with targets at 114.35 and 114.20 in extension.
Should the rate surpass 114.80, look for a further upside with 115.00 and 115.20 as targets.
Spot gold held steady at $1,824.54 an ounce.
The RSI is mixed with a bullish bias.
If the price rises above 1814.00, look for targets at 1831.00 and 1839.00 in extension.
If the price falls below 1814.00, look for a further downside with 1808.00 and 1801.00 as targets.
Oil prices hit two-month highs, lifted by tight supply and easing concerns over the spread of the Omicron coronavirus variant, jumped 1.92% to $82.78 per barrel.
The RSI is bullish and calls for further upside.
Should the price increase above 81.80, seek out targets at 83.50 and 84.30 in extension.
If the price drops below 81.80, look for a further downside with 81.15 and 80.45 as targets.
The EUR/USD pair trades near a daily high of 1.1445, a level that was last seen on November 15
even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
For long positions above 1.1410, look for targets at 1.1460 and 1.1480 in extension.
If the rate slides below 1.1410, look for a cfurther downside with 1.1390 and 1.1370 as targets.
GBPUSD on the daily chartThe GBPUSD is trading at a new two month high (going back to November 4. The high price just reached 1.36829.
the RSI advocates for further advance.
In the case of a price climb above 1.3690, new targets are at 1.3730 and 1.3750 in extension.
Should the price fall below 1.3690, look for a further downside with 1.3670 and 1.3645 as targets.
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