Technical Analysis Report On Stocks, Crypto, Commodities – 14 December 2021

 Asian stocks and oil prices slipped on Tuesday. The Shanghai composite is down 0.31% at 3,669.84. Overall, the Singapore MSCI down 0.38% at 339.85. Over in Hong Kong, the Hang Seng Index down 1.50% at 23,657.00. In Japan, the Nikkei 225 down 1.08% at 28,340.00, while the Topix index is down 0.51% at 1968.5. South Korea’s Kospi down 0.76% to 2978.71. Australia S&P/ASX 200 up 0.07% at 7384.4.

European equities Monday closing. The DAX futures contract in Germany traded down 0.01% at 15621.72, CAC 40 futures down 0.70% at 6942.92 and the UK 100 futures contract in the U.K. down 0.83% at 7,231.43.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.89% at 35650.96. The S&P 500 down 0.91% at 4668.98 and the Nasdaq 100 down 1.53% at 16082.55, NYSE closes down 0.81% at 16719.57.

In the Forex market, GBPUSD down 0.14% at 1.3194. The USDJPY up 0.05% at 113.60. The USDCHF up 0.12% at 0.9235. EURUSD down 0.08% at 1.12736, EUR/GBP up 0.12% at 0.85443. The USD/CNY up 0.03% at 6.3647 at the time of writing.

In the commodity market U.S. Gold futures down 0.01% at $1,785.60. Elsewhere, Silver futures down 0.48% to $22.222 per ounce, Platinum down 0.05% at $930.00 per ounce, and Palladium up 0.06% at $1687.50.

Crude Oil down on Tuesday; Brent crude oil down 0.19% at $74.10 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.28% at $70.81.

In the Cryptocurrency Markets, Bitcoin at 47065.49 up 0.73%, Ethereum down 0.20% at 3779.24, Litecoin at 145.76 up 0.71%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Moderna Inc. up 5.808% at $271.99, Pfizer Inc. up 4.585% at $55.20, Incyte Corp. up 3.685% to $67.81, NVIDIA Corp. down 6.746% to $281.61, General Motors Co. down 6.455% to $59.13, Marathon Oil Corp. down 5.117% at $15.39.

Economic news:

US: The U.S. Senate will vote on Tuesday to raise the federal government’s $28.9 trillion limit debt limit, avoiding an unprecedented default as soon as later this month, Senate Majority Leader Chuck Schumer said on Monday.

“The Senate will act tomorrow to prevent default,” Schumer, a Democrat, said in a speech to the Senate.

Senate Republicans had resisted voting on the debt ceiling for months, seeking to link the move to President Joe Biden’s proposed $1.75 trillion “Build Back Better” domestic spending bill that Republicans oppose.

Democrats note the legislation is needed to finance substantial debt incurred during former President Donald Trump’s administration, when Republicans willingly increased Washington’s credit card bill by about $7.85 trillion, partly through sweeping tax cuts and spending to fight the COVID-19 pandemic.

Lawmakers agreed last week to legislation that prevents the use of stalling tactics in this case, allowing the Senate to move quickly to approve raising the debt ceiling by a simple majority vote of Democrats in the chamber.

Eurozone: The number of British manufacturers raising prices has hit its highest in at least two decades, according to a survey published on Monday as the Bank of England considers whether to head off inflation pressure with an interest rate hike this week.

Trade body Make UK and accountants BDO said a net balance of 52% of manufacturers had increased their prices in the final three months of the year, up from 50% three months earlier and the fourth quarterly rise in a row.

It was the highest reading since the survey began asking questions about prices in 2000, pushed up in large part by global supply chain problems since the COVID-19 pandemic, and the share was likely to rise further to 58% in early 2022.

Domestic market orders outpaced export orders but demand for both was slowing, the survey showed.

Make UK said it remained positive about manufacturing output growth for next quarter but lowered its forecast for 2021 from 7.1% to 6.9% and predicted growth of 3.3% in 2022.

Important Data: AUSTRALIA HIA New Home Sales (MoM) today at 19:00 previously which was 11.1%. JAPAN Industrial Production (MoM) (Oct) at 23:30 previously which was 1.1%. AUSTRALIA NAB Business Confidence (Nov) today at 19:30 previously which was 21.00. Germany 12-Month Bubill Auction today at 5:40 previously which was -0.756%.

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.31952, TAKE PROFIT AT 1.31811 AND STOP LOSS AT 1.32179

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