15 Jun 2023 Foreign

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

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E-Mini Dow

U.S. stocks closed mixed on Wednesday after the Federal Reserve indicated that not one, but two more interest rate hikes may be in store as inflation remains sticky while the labor market has surprised with "extraordinary resilience.”

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Plan A: Remain short as long as market trades below 34375. Targets are 34180 and 34082.

Plan B: Consider long if market stays above 34375. Targets are 34473 and 34570.

E-Mini S&P 500

Stocks gyrated on Wednesday as the Federal Reserve paused its rate-hiking campaign and signaled it was making progress on fighting inflation.

But at the same time, the central bank indicated it would hike another two times later this year.

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Plan A: Long if market supported firm above 4369. Targets are 4372 and 4389.

Plan B: Short if market failed to support above 4369. Targets are 4351 and 4342.

E-Mini Nasdaq

As traders were expecting, the Fed kept interest rates unchanged at a target range of 5%-5.25% on Wednesday afternoon, ending a streak of 10 consecutive hikes.

Despite the pause, the markets’ initial reaction was negative as investors focused on the the central bank’s projections for the rest of the year, which indicated the Fed would restart rate hikes before long.

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Plan A: Long if market retraced but supported firm above 13573. Targets are 13609 and 13649.

Plan B: Short if market failed to support above 13573. Targets are 13528 and 13492.

HSI

Hong Kong stocks fell on Wednesday, giving up early gains on expectations the Federal Reserve will skip an interest rate hike this month, with traders hoping China unveils measures to stimulate its struggling economy.

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Plan A: Remain long if the market stays above 19453. Targets are 19688 and 19766.

Plan B: Consider short only if the market stays below 19453. Targets are 19375 and 19297.

WTI Crude

crude oil closed lower on Wednesday as a pause in US interest rate hikes accompanied bearish forecast for more hikes on the way and an outsized rise in US oil inventories more than offset a bullish demand forecast from the International Energy Agency..

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Plan A: Remain short as long as oil price stays below 69.53. Targets are 67.97 and 67.19.

Plan B: Consider long only if oil price stays above 69.53. Targets are 70.31 and 71.09.

Gold

Gold prices were flat on Thursday following the Federal Reserve's widely expected pause on interest rate hikes, although hints of a further increase pinned bullion near previous session's lows.

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Plan A: Remain short as long as gold price stays below 1960.9. Targets are 1945.3 and 1941.4.

Plan B: Attempts long only if gold price stays below 1960.9. Targets are 1964.8 and 1968.8.

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.