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20180221 -

Feb, 21st 07:56

DAILY REPORT ON 21st FEB 2018

U.S. stocks halted a six-day rally as disappointing results from Walmart Inc., there was a steep decline in Walmart shares and a rise in interest rates, but gains in Amazon and technology stocks propped up the S&P 500 and the Nasdaq.

The 30-stock index closed 254.63 points lower at 24,964.75 — snapping a six-day winning streak — with shares of Walmart shedding 10.2 percent. The retail giant’s stock posted its biggest decline since January 1988.

The S&P 500 pulled back 0.6 percent to 2,716.26, with consumer staples declining more than 2 percent. The broad index also closed lower for the first time in seven sessions. Walmart was the biggest decliner in the S&P 500.

The world’s biggest brick-and-mortar retailer reported a lower-than-expected profit and posted a sharp drop in online sales growth during the holiday period. Its shares slumped 9.4 percent, on track for their biggest intraday percentage fall in more than two years.

Other retailers including Target, Kroger and Costco Wholesale fell between 1.3 percent and 3.7 percent, dragging the S&P consumer staples index down 1.62 percent.

The dollar firmed on Wednesday, extending gains made overnight following the overnight U.S. Treasury auction. The dollar index, which tracks the U.S. currency against a basket of six rivals, stood at 89.817. Against the yen, the dollar edged up to trade at 107.72, above the 106 handle it started the week at.

Asian stock markets gained after a choppy start Wednesday, following the first down day on Wall Street in seven sessions.

Japan’s benchmark Nikkei 225 index shed 0.13 percent after giving up gains seen earlier after a choppy trade. Manufacturing stocks which traded slightly higher early on were mixed in the afternoon, with Fanuc Manufacturing trading lower by 0.22 percent.

Markets in China remained closed for the Lunar New Year holiday.

On the commodities front, U.S. crude futures declined 1.07 percent to trade at $61.13 per barrel. Brent crude futures edged down by 0.84 percent to trade at $64.70.

Gold was 0.08 percent down at $1,329.90 an ounce. Silver lost 0.32% to $16.380 an ounce. Copper prices were 0.25% lower to $3.178 a pound. U.S. cotton is at $79.06 while sugar slipped by 0.30% to $13.34.

Bitcoin is currently trading at 10,944, 4.33% higher on the Bitfinex exchange, from its previous close.

Ethereum was last trading at $880.99, 6.99% lower on the Bitfinex exchange on Wednesday.  Ripple’s XRP token was 8.68% up on the Poloniex exchange, for the day. Litecoin was trading at $223.24, down by 7.21%.

Technicals:

EURJPY

Fig: EURJPY D1 Technical chart

EURJPY has made higher highs and higher lows 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 42.09. The MACD is ready to make a positive crossover above the signal line. The market is expected to trade in the positive territory.

Trade suggestion:

Buy digital Call options between 132.842, and 133.188, valid until 23:00 GMT February 21st, 2018

GBPUSD

Fig: GBPUSD D1 Technical charts

GBPUSD is trading sideways on the daily charts. The market is trading below all the moving averages (9 day, 20 day, 50 day and 100 day). The RSI is at 51.95. The MACD is below the signal line. The negative bias is dominating the market.

Trade suggestion:

Buy digital Put options between 1.39770, and 1.39555, valid until 23:00 GMT February 21st ,2018

USDJPY

Fig: USDJPY D1 Technical charts

USDJPY has made higher highs and higher lows on the daily chart. Currently, the price action is trading below all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 43.74. The MACD has made a positive crossover above the signal line. Positive bias is dominating the market.

Trade suggestion:

Buy digital Call options between 107.733, and 108.045, valid until 23:00 GMT February 21st, 2018

DASH

Fig: DASH D1Technical chart

DASH/USD is trading in the red zone on the daily chart. The RSI is nicely placed at 48.79.  The MACD has made a positive crossover above the signal line. The market is expected to trade in the negative territory.

Trade suggestion:

Buy digital Put options between 658, and 618, valid until 23:00 GMT February 21st ,2018

COFFEE

Fig: COFFEE Technical chart

Coffee is trading in the negative 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 43.71. The MACD is below the signal line. Negative bias is dominating the market.

Trade suggestion:

Buy digital Put options between 119.65, and 119, valid until 23:00 GMT February 21st ,2018

SUGAR

Fig: SUGAR D1 Technical charts

Sugar is trading in the negative on the daily charts. The market is trading below all the moving averages (9day, 20 day, 50 day, 100 day and 200 day). The RSI is at 41.32. The MACD is ready to make a negative crossover below the signal line.

Trade suggestion:

Buy digital Put options between 13.31, and 13.00, valid until 23:00 GMT February 21st ,2018

RUSSELL 2000

Fig: RUSSELL 2000 Technical charts

RUSSELL 2000 is trading in the negative zone on the daily charts. Currently, the market is trading above all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 48.71. The MACD is above the signal line. The market is expected to trade negative zone for the day.

Trade suggestion:

Buy digital Put options between 1530, and 1520, valid until 23:00 GMT February 21st ,2018