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Market Analysis 06 July 2021

Market Analysis 06 July 2021

Stock : IPGP Photonics

Stock IPGP Photonics

Trend analysis

Short term
There is no clear trend yet defined, however a long position would be desirable

Active order: buy if it rises above 213

Trend analysis 06 july

 

Medium term comment

The medium-term trend of the IPGP * price remains bearish this week. The security maintains a relative behavior equal to the MSCI World Index. Volatility has decreased in the last month.

 

medium term 06july

 

Stock : BABA

stock baba 06 july

stock baba-2 06 july

 

Trend analysis

Short-term comment
the stock has corrected but is in a good time to go long or hold the action.
Active order: HOLD/BUY

Trend analysis -2 06 july

Medium term comment

The medium-term price trend remains bearish this week. the value maintains a relative behavior equal to the MSCI. Volatility has decreased in the last month.

medium term-2 06july.png

FOREX: GBP/USD

FOREX GBPUSD 6 july
there are two strong supports here and second one hold and price receive that support and now is showing some strength it can retest that support again and created double bottom so we are looking for another long positions there .

There are two strong supports here and second one hold and price receive that support and now is showing some strength it can retest that support again and created double bottom so we are looking for another long positions there .

FOREX: EUR/USD

FOREX EURUSD 06 jul
Pattern: Triangle on 1D. Signal: Buy as the price is rebounding near the Higher Lows trend-line of the Triangle. The RSI is making a Double Bottom , similar to the previous Higher Lows events. Target: 1/21750 (just below the 0.2 Fibonacci retracement level).

General Market

U.S. stocks are seen opening marginally lower Tuesday, starting the new holiday-shortened week on a cautious note as oil prices rise after a group of top producers failed to agree on production levels.

At 7 AM ET (1100 GMT), the Dow Futures contract was down 30 points, or 0.1%, S&P 500 Futures traded 3 points, or 0.1%, while Nasdaq 100 Futures climbed 7 points, or 0.1%.

Crude prices rose to their highest levels in nearly seven years Tuesday the day after talks between the Organization of the Petroleum Exporting Countries and allies, a grouping known as OPEC+, broke down without agreement on a deal to boost production.

This lack of new output threatened to tighten the demand/supply balance as economies reopen around the globe, pushing prices higher and adding to near-term inflationary pressures that threaten to undermine the global economic recovery.

At 7 AM ET, U.S. crude futures traded 1.8% higher at $76.50 a barrel, reaching its highest level since November 2014, while the Brent contract rose 0.3% to $77.40, climbing to its highest point since late 2018.

Still, stock market losses are likely to be limited, with the main indices near record levels, helped by a successful vaccination program, healthy economic data and strong corporate earnings underpinned by massive levels of monetary and fiscal stimulus.

Wall Street was closed on Monday after a long weekend to celebrate Independence Day, but Friday’s June jobs report, where 850,000 jobs were created, added to the underlying positive tone.

The economic data slate Tuesday centers around the release of the ISM index of service industry activity. It is expected to show continued strong growth after hitting a record high in May, but could also underline ongoing labor market constraints.

In Europe earlier Tuesday, Eurozone monthly retail sales 4.6% on the month in May, more than expected, driven mostly by purchases of non-food products and car fuel, while investor sentiment in Germany dropped in July, but remained at a very high level. A greater source of concern may be the surprise 3% drop in German factory orders in May, given the importance of the sector for the Eurozone economy.

In corporate news, Didi Global (NYSE:DIDI) stock slumped over 20% premarket and Kanzhun (NASDAQ:BZ) stock fell 10%, both hit by Chinese authorities clamping down on their business practices.

Additionally, crude stocks benefited from the higher oil prices, with Exxon Mobil (NYSE:XOM) stock up 0.9%, Chevron (NYSE:CVX) stock rose 0.9% and Marathon Oil (NYSE:MRO) stock up 1.8%.

Elsewhere, gold futures rose 1.4% to $1,807.65/oz, while EUR/USD traded 0.2% lower at 1.1841.

Written by Editor

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