27 Jul 2023 Foreign

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

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E-Mini Dow

U.S. stocks were fairly subdued on Wednesday following a Federal Reserve rate hike that pushed borrowing costs to their highest since the global financial crisis.

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Plan A: Remain long as long as market trades above 35547. Targets are 35791 and 35840.

Plan B: Consider short if market stays below 35547. Targets are 35498 and 35449.

E-Mini S&P 500

S&P 500 futures were little changed in overnight trading after the Federal Reserve instituted a quarter percentage point hike, bringing rates to the highest level in more than 22 years.

Remarks from Chair Jerome Powell hinted the central bank could also hold rates steady at these levels, and suggested that the Federal Open Market Committee will remain data-dependent. The central bank meets again in September after a batch of new inflation and employment data.

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Plan A: Long if market supported firm above 4610 Targets are 4626 and 4642.

Plan B: Short if market failed to support above 4610. Targets are 4592 and 4579.

E-Mini Nasdaq

The Nasdaq Composite lost 0.12%.

The moves came after the Fed implemented a widely-expected 25 basis point hike, bringing interest rates to their highest level since 2001.

Meta Platforms shares popped nearly 7% in extended trading on better-than-expected results and strong guidance, while Chipotle Mexican Grill plunged about 9% as sales fell short of estimates.

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Plan A: Long if market retraced but supported firm above 15721. Targets are 15759 and 15793.

Plan B: Short if market failed to support above 15721. Targets are 15690 and 15663.

HSI

Hong Kong shares ended slightly lower on Wednesday, the day after a more than four percent surge, with traders turning their attention to the Federal Reserve's interest rate decision later in the day.

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Plan A: Remain long if the market stays above 19219. Targets are 19531 and 19688.

Plan B: Consider short only if the market stays below 19219. Targets are 19063 and 18906.

WTI Crude

crude oil closed lower for the first time in five sessions on Wednesday after the Federal Reserve, as expected, raised interest rates by 25 basis points and US oil inventories fell last week.

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Plan A: Remain long as long as oil price stays above 78.13. Targets are 79.69 and 80.47.

Plan B: Consider short only if oil price stays below 78.13. Targets are 77.34 and 76.56.

Gold

Gold prices extended gains on Wednesday, helped by a weaker dollar and bond yields after the U.S. Federal Reserve delivered a widely expected interest-rate hike and investors digested comments from Chair Jerome Powell.

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Plan A: Remain long as long as gold price stays above 1953.1. Targets are 1980.5 and 1988.3.

Plan B: Attempts short only if gold price stays below 1953.1. Targets are 1949.2 and 1941.4.

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.