Quiet end of week – Equities linger – Market Overview – November 27

Quiet end of week – Equities linger – Market Overview – November 27

The day after Thanksgiving is a day of transition in markets with little activity in which the North American session will close earlier than usual.

The stock market continues to fluctuate but maintains its positive bias, mainly due to the optimism that the advances in vaccines that the different pharmaceutical companies have achieved and anticipate a return to normality in the first months of next year.

Crude Oil

The expectation that mobility restrictions will gradually disappear soon is the main reason why crude oil has experienced a significant rise in recent days that has led it to exceed the maximum located at $43.50, a level that has been acting as resistance lately and has even closed the gap of March by exceeding the level of $44.50.

Technically, the last downtrend can be considered when trading above these levels, which is also the 0.618%Fibonacci retracement of the entire bearish leg that originated as a result of the crisis in March.

But the fundamental factors also have to contribute to this recovery and for this would be necessary to have decreasing figures in inventories and, above all, an increase in global demand for crude oil, something that will undoubtedly take time and will require that the consumption and growth figures follow the same upward path that began in recent weeks.

The positive correlation of crude oil with the Canadian Dollar is high as this country is an exporter of this raw material and constitutes an essential factor in its GDP composition. For this reason, the Canadian dollar has benefited from this better performance of crude oil, to which must be added the better commercial prospects after the Democratic victory.

Trade tensions with the Trump administration have been of great intensity, and it has been an element of uncertainty for Canada that has negatively affected the price of the currency.

USD/CAD reflects these better perspectives with the strengthening of the Canadian dollar; technically, it is in a critical support zone around 1.3000 that, if broken downwards, undoes the previous uptrend and could open its way towards the 1.2840 and 1.2580 area.

Maklumat/penyelidikan ini disediakan oleh Miguel Ruiz (“tpenganalisis penyelidikan”) dan tidak mengambil kira objektif pelaburan tertentu, keadaan kewangan atau keperluan khusus individu. Penganalisis penyelidikan bertanggungjawab terhadap kandungan laporan penyelidikan ini, samada sebahagian atau keseluruhannya, memperakui bahawa pandangan mengenai syarikat dan sekuriti mereka yang dinyatakan dalam laporan ini jelas mencerminkan pandangan peribadi dan pedagang bertanggungjawab sepenuhnya ke atas risiko mereka sendiri.

Penyelidikan yang disediakan bukanlah pandangan JME Financial Services (Pty) Ltd ataupun undangan untuk melabur dengan JME Financial Services (Pty) Ltd. Penganalisis penyelidikan juga memperakui bahawa tiada sebahagian daripada pampasannya, adalah, atau akan, secara langsung atau tidak langsung, berkaitan dengan cadangan atau pandangan tertentu yang dinyatakan dalam laporan ini.

Sehingga tarikh laporan diterbitkan, penganalisis penyelidikan dan pasangannya dan/atau saudara-mara yang bergantung kepada penganalisis penyelidikan, tidak memegang kepentingan dalam sekuriti yang dicadangkan dalam laporan ini (“kepentingan” termasuk pemilikan langsung atau tidak langsung terhadap sekuriti).

Penganalisis penyelidikan tersebut bukanlah di bawah JME Financial Services (Pty) Ltd. Anda digalakkan mendapatkan nasihat daripada penasihat kewangan bebas mengenai kesesuaian pelaburan, di bawah penglibatan berasingan, seperti yang anda anggap sesuai dengan objektif pelaburan tertentu anda, keadaan kewangan atau keperluan kewangan tertentu sebelum membuat komitmen untuk melabur.

Undang-undang Republik Afrika Selatan akan mengawal sebarang tuntutan yang berkaitan dengan atau yang timbul daripada kandungan maklumat/ penyelidikan yang disediakan.

JME Financial Services (Pty) Ltd, beroperasi sebagai ZA.CAPEX.COM, bertindak sebagai perantara antara pelabur dan Magnasale Trading Ltd, rakan kontrak untuk perbezaan yang dibeli oleh pelabur melalui ZA.CAPEX.COM, yang diberi kuasa dan dikawal selia oleh Cyprus Securities. dan Suruhanjaya Pertukaran dengan nombor lesen 264/15. Magnasale Trading Ltd adalah prinsip utama CFD yang dibeli oleh pelabur.