TECHNICAL ANALYSIS REPORT – CAPITAL STREET FX

 

Oil Drops to 61/2 Month Low as Market Is Worried by Iran Deal

Asia Pacific shares rallied on Wednesday. The Shanghai Composite is up 0.45% at 3,292.52. Overall, the Singapore MSCI is down 1.70% at 301.55. Over in Hong Kong, the Hang Seng Index is up 0.51% at 19,914.00. In Japan, the Nikkei 225 is up 1.18% at 29,190.00, while the Topix index is up 1.01% at 2005.50. South Korea’s Kospi is down 0.67% at 2,516.47. Australia S&P/ASX 200 up 0.31% at 7127.70.

Top News of the Day:

Oil bulls wish that Iran would just go away. In what appears to be another European surreptitiously U.S.-backed attempt to revive the 2015 Iranian nuclear deal, crude markets are faced with the probability of an additional 1.3 million barrels per day of supply coming on to the market, at a time when demand doesn’t seem to be all that great.

Market Summary as per 16/08/2022:

European equities Tuesday closing. The DAX futures contract in Germany traded down 0.03% at 13,906.25, CAC 40 futures up 0.11% at 6599.98 and the UK 100 futures contract in the U.K. up 0.07% at 7,541.34.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.71% at 34152.02. The S&P 500 up 0.19% at 4305.19 and the Nasdaq 100 down 0.23% at 13635.21, NYSE closes up 0.33% at 15846.78

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.2092, TAKE PROFIT AT 1.2060 AND STOP LOSS AT 1.2121

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