Daily Markets

• Most Asian stocks rose on Monday as investors piled into cyclical stocks heading into the last week of November, while focus turned to a slew of upcoming economic readings, including China’s industrial data and India’s third-quarter GDP. Sentiment was also buoyed by U.S. President-elect Donald Trump's nomination of prominent investor Scott Bessent as Treasury Secretary, with Bessent seen holding a much more moderate view on trade tariffs. Regional markets tracked Friday's gains on Wall Street, where demand for economically sensitive sectors saw the Dow Jones Industrial Average close at a new high, and S&P 500 mark its fifth winning day in a row. U.S. stock index futures rose in Asian trade, tracking optimism over Bessent's appointment. Bond yields also fell after his appointment, lending stocks more space to rise. Investors shrugged off risk worries induced by heightened tensions between Russia and Ukraine. Moscow launched an advanced hypersonic missile on a Ukrainian facility last week and threatened nuclear retaliation for Kyiv’s use of Western-made, long-range missiles Reuters reported that Adani dollar bond prices fell to almost one-year lows on Monday as investors cut their exposure to the Indian conglomerate in the wake of bribery and fraud allegations from U.S. authorities. Singapore is scheduled to release its inflation figures for October later in the day. Economists polled by Reuters expect the headline inflation rate of 1.8%, down from the 2% in the previous month. South Korea's central bank is set to decide on interest rates on Wednesday, while November inflation numbers from Japan’s capital city of Tokyo will be released on Friday. In the U.S., the Federal Reserve’s preferred measure of inflation, the personal consumption expenditures (PCE) price index, is to be released on November 27.

Gold – XAU

Gold on Friday made its intraday high of US$2716.37/oz and low of $2668.05/oz. Gold is up by 1.753% at US$2716.15/oz.

Technicals in Focus:

On the daily charts, gold trades higher than 20DMA (2197). If it drops below this level, it could lead to 2,100. The MACD is currently above the zero line and the histograms are showing an increasing trend, indicating that there may be upward movement in the coming sessions. The RSI is currently at 83.04, which is in the overbought region, suggesting there may be selling pressure in the next 2 to 3 sessions. The Stochastic Oscillator is also in the overbought territory but has given a positive crossover, indicating a bullish stance for intraday trades, but rebound in expected in all the overbought indicators.

Trading Strategy: Sell on Strength

Sell below 2690-2700 keeping stop loss closing above 2700, targeting 2579-2560-2540-2519 and 2510-2500-2484. Buy in between 2650-2489 with risk below 2480 targeting 2624-2639-2650 and 2662-2670.

Silver - XAG

Silver on Friday made its intraday high of US$31.38/oz and low of US$30.71/oz settle up by 1.848% at US$31.34/oz.

Technicals in Focus:

On daily charts, silver is sustaining above 20MA (25.05), breakage above will lead to 23.73. MACD is below the zero line and histograms are increasing trend, bringing a bullish stance in the upcoming sessions. RSI is in the oversold region, indicating a sell signal for now. The Stochastic Oscillator is in the overbought region and gives a positive crossover to show an upside move for the intraday trade.

Trading Strategy: Buy on Dips

Buy in between 30.70-27.50, targeting 31.30-32.10-32.60 and 33.10-33.80-34.20 with stop loss should be placed on the breakage below 27.00. Sell in between 31.30-34.30 with a stop loss above 35.00 targeting 30.70-30.25-29.70 and 29.10-28.65-28.00.

Oil - WTI

Crude Oil on Friday made an intra‐day high of US$71.35/bbl, an intraday low of US$69.18/bbl, and settled up by 1.353% to close at US$70.99/bbl.

Technicals in Focus:

On daily charts, oil is sustaining above its 100DMA i.e. 75.37, a support level, and breakage above will call for 77.48. MACD is above the zero line and histograms are in increasing mode will bring a bullish stance in the upcoming sessions. The Stochastic Oscillator is in the overbought region, giving a negative crossover to confirm a bearish stance; while the RSI is in the neutral region, more upside can be expected to reach the overbought region, which is highly probable.

Trading Strategy: Neutral to Sell

Sell in between 70.90-76.85 with stop loss at 77.00; targeting 69.20-68.50-67.50 and 66.90-66.10-65.05. Buy above 69.90-64.05 with risk daily closing below 64.00, targeting 70.90 and 71.65-73.00-73.90.

EUR/USD

EUR/USD of Friday made an intraday low of US$1.0332/EUR, a high of US$1.0497/EUR, and settled the day down by 0.522% to close at US$1.0418/EUR.

Technicals in Focus:

On daily charts, prices are sustaining above 100DMA (1.0800), which becomes immediate support, a break below will target 1.0717. MACD is above the zero line and histograms are increasing mode, bringing a bullish view. Stochastic is in oversold territory, giving negative crossovers to the bullish outlook for intraday. 14D RSI is currently in a neutral region and giving no directions to consider right now.

Trading Strategy: Neutral to Sell

Sell below 1.0490-1.0840, targeting 1.0450-1.0400-1.0340 and 1.0290-1.0210 with stop-loss at daily closing above 1.1400. Buy above 1.0540-1.0210 with risk below 1.0210 targeting 1.0490-1.0540-1.0600 and 1.0660-1.0700-1.0790.

GBP/USD

GBP/USD on Friday made an intra‐day low of US$1.2486/GBP, a high of US$1.2593/GBP, and settled the day down by 0.444% to close at US$1.2531/GBP.

Technicals in Focus:

On daily charts, prices are sustaining above 50DMA (1.2674) is becoming a support level. 14-D RSI is currently in a neutral region and direction is difficult to predict on an RSI basis. The Stochastic Oscillator is in oversold territory and gives a positive crossover to confirm a bullish stance. MACD is above the zero line, but histograms are increasing leading to movement.

Trading Strategy: Neutral to Buy

Based on the charts and explanations above; buy in between 1.2560-1.2380 with a target of 1.2600-1.2670-1.2750 and 1.2800.1.2890-1.2990 with a stop loss closing below 1.2380. Sell in between 1.2590-1.3260 with targets at 1.2520-1.2450-1.2380 and 1.2340-1.2290 with a stop loss of 1.3200.

USD/JPY

USD/JPY on Friday made an intra‐day low of JPY153.96/USD an intraday high of 155.01/USD, and settled the day up by 0.165% at JPY154.77/USD.

Technicals in Focus:

In daily charts, JPY is sustaining above 100DMA (155.35), major support on the daily chart. 14-D RSI is currently in the overbought region and chances of downward are expected based on RSI. MACD is above the zero line but histograms are in decreasing mode which might lead to downward movement. The Stochastic Oscillator is in overbought territory and signaling to sell as it has given a negative crossover to confirm a bearish stance.

Trading Strategy: Neutral to Sell

Sell below 155.00-159.50 with risk above 159.00 targeting 154.60 and 153.70-153.00-152.10. Long positions above 154.00-150.00 with targets of 156.00-157.00-157.80 and 158.40-159.00 with stops below 150.00.