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20180212 -

Feb, 12th 08:13

DAILY REPORT on 12th FEB 2018

The Dow Jones industrial average rebounded more than 300 points on Friday, paring deep losses for investors in what still amounted to the worst week in two years.

The Dow ended the day up 330.44 points, or 1.38 percent, closing at 24,190.90. The S&P 500 rallied 1.49 percent to finish at 2,619.55, while the Nasdaq composite added 1.44 percent to close at 6,874.49. The index swung more than 1,000 points in volatile trading Friday.

U.S. index futures implied a positive Monday open for stocks stateside after last week’s volatile trade.

Dow Jones industrial average futures were up 151 points and S&P 500 futures traded 12.9 points higher during Asian morning trade. Nasdaq 100 futures gained 25 points.

“While we cannot rule out further weakness (clearly it has gone deeper than we anticipated), we think the magnitude of the correction has largely run its course with the SPX testing its rising 200-day moving average and many metrics showing short-term washout conditions,” Jonathan Krinsky, chief market technician at MKM Partners, said in a Sunday note.

Asian markets are higher today as Chinese and Hong Kong shares show gains.

China markets traded in positive territory after taking a beating last week. Hong Kong’s Hang Seng Index advanced 0.71 percent. Financial stocks were mostly higher, with HSBC climbing 0.38 percent and China Construction Bank edging up 0.26 percent higher. Japan’s Nikkei was closed for a holiday.

Over in Australia, the S&P/ASX 200 slipped 0.30 percent as earnings season continued Down Under. Energy-related stocks were down 0.43 percent despite oil prices rebounding after sliding for six straight sessions. Santos declined 0.52 percent and Beach Energy lost 2.89 percent.

Commodities pared recent earnings, with gold 0.71 percent up at $1,324.88 an ounce and off a five-week low of $1,306.81. Silver earned 0.12% to $16.410 an ounce. Copper prices earned by 0.26% to $3.066 a pound. U.S. cotton is 0.17% higher at $76.88 while sugar gained 0.44% to $13.68.

Brent crude futures rallied 57 cents to $63.36 a barrel, while U.S. crude for April added 68 cents to $59.88. Brent lost nearly 9 percent last week and U.S. crude dropped 10 percent, the steepest falls since January 2016.

Bitcoin has made some recovery from the lower levels, currently trading at 8440, 4.44% higher on the Bitfinex exchange, from its previous close.

Ethereum was last trading at $840.22, up 4.81% on the Bitfinex exchange on Monday.  Ripple’s XRP token was 6.94% higher on the Poloniex exchange, for the day. Litecoin was trading at $153.75, up by 4.21%

Technicals:

EURGBP

Fig: EURGBP D1 Technical chart

EURGBP is trading in the positive zone on the daily charts. The market is trading above all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 56.03. The MACD is below the signal line. The market is expected to trade in the positive territory.

Trade suggestion:

Buy digital Call options between 0.88652, and 0.88745, valid until 23:00 GMT February 2018

GBPJPY

Fig: GBPJPY D1 Technical charts

GBPJPY is trading sideways on the daily charts. The market is trading above the 200 day moving averages, but below the 9 day, 20 day, 50 day and the 100 day EMA. The RSI is at 40.19. The MACD is above the signal line but the negative bias is dominating the market sentiments.

Trade suggestion:

Buy digital Put options between 150.470, and 150.287, valid until 23:00 GMT February 2018

USDNOK

Fig: USDNOK D1 Technical charts

USDNOK is trading sideways on the daily chart. Currently, the price action is trading below the 20 day, 50 day, 100 day and the 200 day moving averages. The RSI is at 56.09. The MACD has made a positive crossover above the signal line. Negative bias is dominating the market.

Trade suggestion:

Buy digital Put options between 7.94565, and 7.92454, valid until 23:00 GMT February 2018

BITCOIN CASH

Fig: BITCOIN CASH D1Technical chart

BCH/USD has made higher highs and higher lows on the daily chart. The RSI is nicely placed at 41.80.  The MACD has made a positive crossover above the signal line. The market is trading below all the moving averages (200 day, 50 day, 100 day and 200 day). The market is expected to trade neutral for the day.

Trade suggestion:

Buy digital Put options between 1225, and 1200, valid until 23:00 GMT February 2018

SUGAR

Fig: SUGAR Technical chart

Sugar is trading in the positive zone on the daily charts. The market is trading below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 47.15. The MACD is above the signal line. Positive bias is dominating the market.

Trade suggestion:

Buy digital Call options between 13.70, and 13.90, valid until 23:00 GMT February 2018

NATURAL GAS

Fig: NATURAL GAS D1 Technical charts

Natural Gas is trading in the positive zone and is near the lower band of the Bollinger bands on the daily charts. The market is also trading below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 32.49. The MACD is below the signal line. The market is expected to recover the losses.

Trade suggestion:

Buy digital Call options between 2.611, and 2.637, valid until 23:00 GMT February 2018

RUSSELL 2000

Fig: RUSSELL 2000 Technical charts

RUSSELL 2000 is trading sideways on the daily charts. Currently, the market is trading below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 31.48. The MACD has made a negative crossover below the signal line. The market is expected to trade positive for the day.

Trade suggestion:

Buy digital Call options between 1489, and 1494, valid until 23:00 GMT February 2018