11 April 2022 Foreign

 

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

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E-Mini Dow

The Dow rose on Friday, as beaten-down bank shares gained and investors grappled with how best to deal with an economy that could skid as the Federal Reserve moves to aggressively tackle inflation.

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Plan A: Remain long as long as market trades above 34375. Targets are 34766 and 34961.

Plan B: Consider short if market stays below 34277. Targets are 34180 and 34082.

E-Mini S&P 500

U.S. stocks on Friday notched losses for the week as investors braced for tighter monetary policy from the Federal Reserve, and both the S&P 500 and Nasdaq pulled back from three consecutive weeks of gains.

 S&P 500 dipped 0.27% to 4,488.28.

Friday’s moves come after the Fed released minutes from its March meeting on Wednesday, which revealed that policymakers plan to reduce their bond holdings by a consensus amount of about $95 billion. The central bank is also considering interest rate hikes of 50 basis points in future meetings.

The pivot by the Fed has caused rates to shoot higher, with the 10-year Treasury yield hitting a new three-year high Friday, rising above 2.7%. The rate ended last week at 2.38% and started the year at 1.63%.

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Plan A: Long if market retraced and supported firm above 4460. Targets are 4479, 4482 and 4497. 

Plan B : Short if market failed to support above 4460. Targets are 4454, 4449 and 4431.

E-Mini Nasdaq

Stock futures declined on Sunday evening as Wall Street looks to shake off a losing week.

The Nasdaq Composite fell 1.34% to 13,711.00.

Investors will also be keeping an eye on developments in Ukraine. Russia’s invasion of the country has caused volatility in oil and other commodities markets, which has, in turn, disturbed stocks.

Tech stocks led the day’s losses as investors dumped the riskier shares in anticipation of higher interest rates limiting the group’s future profit growth.

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Plan A: Long if market supported firm above 14220. Targets are 14256 and 14283.

Plan B: Short if market failed to support above 14220. Targets are 14197 and 14168.

HSI

The Hong Kong Hang Seng Index opened lower but rose through the day, finishing up 0.3% as traders looked ahead to greater fiscal and monetary stimulus from Beijing for the softening Chinese economy. However, tech issues again fell back.

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Plan A: Remain long as long as market trades above 21563. Targets are 22031 and 22188.

Plan B: Consider short only if market surges but failed to break 21950 and retrace. Targets are 21719 and 21563

WTI Crude

Oil prices rose 2% on Friday but notched their second straight weekly decline after countries announced plans to release crude from their strategic stocks.

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Plan A: Remain short as long as oil price stays below 100. Targets are 95.31 and 93.75.

Plan B: Consider long only if oil price stay firm above 95.31 and rebound. Targets are 98.44 and 100.

Gold

Gold traded in a tight range on Friday as the dollar climbed higher on prospects of aggressive interest rate hikes by the U.S. Federal Reserve, partially offsetting safe-haven demand fuelled by the heightened Russia-Ukraine conflict.

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Plan A: Remain long as long as gold price stays above 1937.5. Targets are 1953.1 and 1960.9.

Plan B: Attempts short if gold price surges but failed to break above 1952.2. Targets are 1937.5 and 1921.9.

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, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, 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.