Daily Market Report: April 22, 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.
April 22, 2021
Stocks Rebound After Two Days of Losses
US stocks were higher after the close on Wednesday, as gains in the Basic Materials, Oil & Gas and Financials sectors led shares upwards. At the close in NYSE, the Dow Jones Industrial Average gained 0.93%, while the S&P 500 index added 0.93%, and the NASDAQ Composite index surged 1.19% to recoup yesterday’s losses.
The RSI advocates for further advance.
Long positions above 33,900.00, with targets at 34,250.00 & 34,400.00 in extension.
Below 33,900.00, look for further downside with 33,690.00 & 33,560.00 as targets.
The USD/CAD exchange rate fell sharply by 0.88% to end the session around $1.2496.
The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50-period moving average (respectively at 1.2539 and 1.2578).
The downside prevails as long as 1.2518 is resistance.
Above 1.2518, look for 1.2547 and 1.2563 in extension.
Gold came within a hair’s breadth of touching the critical $1,800 an ounce mark on Wednesday.
The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Gold is above its 20 and 50-period moving average (respectively at 1,788.80 and 1,783.80).
The upside prevails as long as 1,784.00 remains as support.
Below 1,784.00, expect 1,773.50 and 1,767.00 as targets.
Oil prices fell by as much as 2% on Wednesday on talk of a nuclear-related deal by May focused on Iran that would take US sanctions off the Islamic Republic’s crude exports.
The RSI calls for a new up leg.
Long positions above 60.80, with targets at 62.36 & 63.28 in extension.
Below 60.80 look for further downside with 60.40 & 59.80 as targets.
The EUR/USD currency pair traded slightly up at 1.2031.
The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50-period moving average.
The upside prevails as long as 1.2010 remains as support.
Below 1.2010, expect 1.1982 and 1.1966 as targets.
The GBP/USD exchange rate traded flat at around the 1.3935-mark.
The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50-period moving average.
The upside prevails as long as 1.3899 remains as support.
Below 1.3899, expect 1.3861 and 1.3838 as targets.
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