03/21 Market report

【Dow】

The Dow Jones Index went from the lowest point of 32400 and rose to 34800. This is a jump of nearly 2400 points. The Alligators death cross began to tangle and showed that the bottom has a lot of buying. The current KD also shows a high-end figure which indicates that the short-term buying is very strong.

After the Fed raised interest rates last week in line with market's expectations, there were added momentum to the market. The movement was already expected by the market.

USA30-D1

Resistance point 1: 35200 / Resistance point 2: 35500 / Resistance point 3: 35800

Support point 1: 34500 / Support point 2: 34200 / Support point 3: 33800

【Euro】

The French finance minister said that France has frozen 22 billion euros of assets at the Russian Central Bank and 150 billion euros of 30 Russian billionaires. They will also reduce their dependence on Russia's natural gas. The financial sanctions of various countries in the world are getting heavier. The EU now has about 2 million Ukrainian refugees and this will have a certain degree of impact on the economy in the future.

At this stage, the technical line of the EURUSD shows an Alligator death cross while the KD is a gold cross. The 2 indicators contradict each other as the EURUSD has been trading in a consolidated manner. The recent volatility of the euro has also begun to shrink. The movement of EURUSD is mostly driven by the dollar index as the European Central Bank has no special measures put in place.

EURUSD-D1

Resistance point 1: 1.11200 / Resistance point 2: 1.11800 / Resistance point 3: 1.12200

Support point 1: 1.10200 / Support point 2: 1.09800 / Support point 3: 1.09500

【Gold】

Basically, Gold's recent performance has been the reaction of the subsequent changes in the Russia Ukraine war. There have been many different messages in the recent war and many of them are on the good negotiations between Ukraine and Russia. 

Gold fell from $2,000 per ounce began to fall and is still consolidating in the region of 1900-1950. The current Alligator began to tangle which shows no clear direction. The KD is still a gold cross that shows that the short-term buying gradually emerged.

XAUUSD-D1

Resistance point 1: 1935.00 / Resistance point 2: 1950.00 / Resistance point 3: 1980.00

Support point 1: 1910.00 / Support point 2: 1900.00 / Support point 3: 1890.00

【Crude Oil】

After the United States and Western countries began to announce the ban on Russia's crude oil, the price of crude oil began to fluctuate. However, Russia's recent crude oil exports began to increase as India and China bought to buy a large number of Russian crude oil. It was only a few days ago that India and Russia signed a contract of 3 million barrels of crude oil.

Recently, the price of crude oil has begun to rebound after a correction, the current price now is around $105 per barrel. The focus of crude oil seems to no longer be a matter of supply and demand. The US dollar-denominated crude oil is appearing to be in renminbi settlement due to the suspension of SWIFT. This could be the new range in the pricing of crude oil.

USOIL – D1

Resistance point 1: 108.800 / Resistance point 2: 112.500 / Resistance point 3: 115.200

Support point 1: 102.800 / Support point 2: 98.500 / Support point 3: 95.800

OnePro Special Analyst

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