27 April 2020 Foreign

FUTURESCOIN IS GOING GLOBAL

WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

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E-Mini Dow

Global equity benchmarks struggled on Friday as some U.S. states began reopening businesses despite the disapproval of health experts, and as the European Union put off addressing details of its new economic rescue plan. The Dow Jones Industrial Average rose 260-points or 1.11% to 23,775, despite Boeing Co falling more than 5% on a report the planemaker was planning to cut 787 Dreamliner output by about half.

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Plan A : Continue to hold short if market does not breach above 23814. Targets are 23630, 23535 and 23360.

Plan B : Cut above 23890.

Plan C : Long if market trades firmly above 23535. Targets are 23630 and 23810.

Plan D : Cut below 23445.

E-Mini S&P 500

Stocks rose on Friday as oil prices clawed back even more of their historic losses from earlier in the week while investors weighed the prospects of a potential coronavirus treatment from Gilead Sciences. 

The Dow closed 260.01 points higher, or 1.1%, at 23,775.27. The S&P 500 gained 1.4% to close at 2,836.74 while the Nasdaq Composite advanced 1.7% to 8,634.52. Tech was the best-performing sector in the S&P 500, gaining 2.1% as Apple climbed over 2%. 

For the week, however, the Dow was down 1.9% while the S&P 500 dropped over 1%. The Nasdaq was down 0.2% week to date. It was Wall Street’s first weekly decline in three. 

U.S. crude futures rose 2.7% to settle at $16.94 per barrel amid hopes the U.S. will reduce some of its production to account for shrinking demand and storage capacity. 

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Plan A : Long if market doesn't retrace much and supported firm above 2829.25. Targets are 2855.25, 2872.25 and 2895.75.
Plan B : Short if market failed to support above 2829.25. Targets are 2800.25, 2784.75 and 2761.75.

E-Mini Nasdaq

Stocks futures were higher in early Monday morning trade, as oil prices fell, while investors assessed the possibility of re-opening the global economy after the coronavirus outbreak.

Dow futures were up 177 points, implying a Monday opening gain of around 168 points. S&P 500 and Nasdaq 100 futures also pointed to a higher Monday open for the two indexes. West Texas Intermediate futures were down more than 10% at $15.18 per barrel. 

Wall Street’s coming off its first weekly decline in three as a record plunge in oil prices sent investors for a wild ride. 

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Plan A : Long if market doesn't retrace much and supported firm above 8841.25. Targets are 8879.25, 8908.25 and 8938.75.
Plan B : Short if market failed to support above 8841.25. Targets are 8805.25, 8772.25 and 8743.50.

HSI

Hong Kong stocks slipped on Friday to finish the week lower, tracking other Asian markets, spurred by doubts about progress in developing drugs to treat COVID-19 and new evidence of U.S. economic damage caused by the coronavirus pandemic.

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Plan A : Continue to hold short if market stays below 24068. Targets are 23855 and 23760. Cut above 24090.

Plan B : Long if market holds firm above 23840. Targets are 24035 and 24130. Cut below 23800.

WTI Crude

Crude prices rose on Friday as energy producers continued to cut the number of rigs drilling for oil in the United States and Canada. Both Brent and the U.S. crude benchmarks, however, remained on track for their third straight week of losses as global production shutdowns failed to keep pace with the collapse in demand caused by the coronavirus pandemic.

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Plan A : Attempt selling if oil price stays below 16.8
Plan B : Cut above 17.6
Plan C : Consider buying if oil price able to trade firmly above 15.9
Plan D : Cut below 15.4


Gold

Gold prices slipped on Friday as investors booked profits, but concerns over the global economic slowdown and massive stimulus measures from major central banks kept bullion on track for a weekly gain.

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Plan A : Remain buy as long as gold price trades firmly above 1737
Plan B : Exit below 1730
Plan C : Consider selling if gold price surges but fails to breach above 1760
Plan D : Cut above 1769.9

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.