Daily Market Report: October 25, 2021
Latest events and figures - make your trading smarter by following the daily summary of the hottest market news and announcements.
October 25, 2021
Gold up; Oil bulls for ninth successive week
US stocks were mixed after the close on Friday, as gains in the financials, oil and gas and consumer goods sectors led shares higher, while losses in the technology, consumer services and telecoms sectors led shares lower. At the close in NYSE, the Dow Jones Industrial Average gained 0.21% to hit a new all time high, while the S&P 500 index declined 0.11%, and the NASDAQ Composite index lost 0.82%.
The RSI shows upside momentum.
For long positions above 4485.00, the next targets to look for could be at 4585.00 and 4645.00 in extension.
For a price depreciation below 4485.00, look for a further downside with 4435.00 and 4370.00 as targets.
USDCAD traded higher on Friday, closing at a final price of 1.2374.
The RSI advocates for further upside.
A buy opportunity could emerge if the price rises above 1.2350, with targets at 1.2390 and 1.2410 in extension.
In the event of a downward movement below 1.2350, look for a further downside with 1.2330 and 1.2310 as targets.
Gold was up for a second straight week after a Powell-triggered rollercoaster.
The RSI is mixed with a bullish bias.
If the prices climbs above 1782.00, look for targets at 1806.00 and 1814.00 in extension.
For a price dip below 1782.00, look for a further downside with 1774.00 and 1766.00 as targets.
Oil bulls on to ninth winning week, but with a little more volatility.
The RSI is bullish and calls for further advance.
In the event of an upsided breakout above 83.25, the next targets could be at 84.90 and 85.40 in extension.
Should the rate fall below 83.25, look for a further downside with 82.55 and 81.75 as targets.
The dollar was modestly lower in early trading in Europe on Friday, losing ground against higher yielders in particular after good news out of China supported risk assets in general.
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Should there be an increase above 1.1615, check the next targets at 1.1655 and 1.1670 in extension.
In the case of a downside breakout below 1.1615, look for a further downside with 1.1600 and 1.1585 as targets.
GBP slides, on the back of ongoing Brexit trade deal worries.
The RSI calls for a new downleg.
For short positions below the 1.3790 mark, look for targets at 1.3720 and 1.3700 in extension.
In the event of a positive uptrend above 1.3790, look for a further upside with 1.3810 and 1.3830 as targets.
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