USOil prices are up 2.2% at $48.00, earlier printing a 17-day high at $48.30. This is the third consecutive day of gains, and comes amid a recovery in global stock markets and associated revival in risk appetite. There is additionally a degree of optimism about the US-China trade talks slated for January 7-8 in Beijing as increasing signs of real-world impact of...
AUDJPY and USDJPY The Yen has strengthened sharply, driven by safe haven demand following Apple's after-hours revenue warning, which has sent US equity futures down sharply while weighing on Asian markets. AUDJPY has been the biggest mover, and is showing a 1.8% loss despite having lifted out of its lows. With today's sharp decline, Aussie fell apart dramatically...
USDCAD has dropped for a second straight day, putting in some more distance from the 20-month peak that was seen at 1.3663. A rise in oil prices amid a revival in risk appetite in global markets has helped the Canadian Dollar, while US Fed funds futures have now priced out Fed tightening expectations for 2019 and are factoring in a 25 bp rate cut at the 18-month...
CSCO reversed off its resistance at 43.47 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance) where it could potentially drop further down to its support at 40.73 (horizontal swing low support). Ichimoku cloud shows signs of bearish pressure that contributes to our bearish bias.
BP is testing its resistance at 38.62 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 36.99 (horizontal swing low support). Ichimoku cloud shows signs of bearish pressure that contributes to our bearish bias.
HLT is approaching its resistance at 74.26 (61.8% & 100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 69.91 (50% Fibonacci retracement, Horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
BABA is approaching its support at 118.52 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 165.49 (50% Fibonacci retracement, horizontal pullback resistance). Stochastic (89, 5, 3) is approaching its support at 3.9% where a corresponding bounce could occur.
HSBC is approaching its resistance at 42.27 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 40.07 (horizontal swing low support). Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
COKE is approaching its support at 160.49 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 195.01 (61.8% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) is approaching its support at 2.6% where a corresponding bounce could occur.
RYCEY is approaching its resistance at 11.04 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it is expected to reverse down to its support at 9.52 (horizontal swing low support). Stochastic (89, 5, 3) is approaching its resistance at 99% where a corresponding reversal is expected.
GS broke out of its major support turned resistance at 171.75 where it could potentially drop further to its support at 137.33 (horizontal swing low support). Ichimoku cloud is also showing signs of downward pressure which contributes to our bearish bias.
HSBC bounced nicely off its support at 40.07 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 41.94 (61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) has bounced off its support ascending support line.
BBVA is approaching its support at 4.551 (61.8% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 4.832 (50% Fibonacci retracement, horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support at 5.3% where a corresponding bounce could occur.
GS broke out of its support-turned-resistance line at 171.75 (23.6% Fibonacci retracement) where it could potentially fall further to its support at 137.15 (horizontal swing low support). Ichimoku cloud is also showing signs of downward pressure.