The S&P 500 ended flat on Wednesday, losing gains late in the session as investors digested comments by Federal Reserve Chair Janet Yellen, who kept options open for more rate hikes but also saw risks to the U.S. economy.
Hong Kong stocks rose slightly before going into long Chinese New Year holiday, led by resource shares, as the market drew some strength from a firm overnight performance in U.S. equities. Hong Kong markets will resume trading today in anticipation of more downwards movement today after the havoc in Mong Kok on first day of CNY and also losses in regional markets during their absence.
Plan A : Above 19322, do nothing
Plan B : Below 19097, do nothing
Plan C : Attempt selling if market stays below 19232
Plan D : Cut above 19322
Plan E : Consider turning buy only if market rebounds strongly from 19097
Plan F : Cut below 19097
FKLI
Market gap down yesterday but successfully rebounded from its intraday low of 1629.5 before settling at 1637. It will be important for market to stay resilient above 1626 as failure to do so might trigger a fresh wave of selling. Buyers must stay cautious despite firmer Ringgit.
Plan A : Attempt buying if market stays firm above 1631
Plan B : Cut below 1626
Plan C : Consider selling if market trades consistently below 1641
Plan D : Cut above 1644
FCPO
FCPO was rather flat on Wednesday, moving within 2570's to 2580's after a surge in the morning. Overnight soybean oil closed up US$0.31 while Ringgit strengthen against U.S. Dollar at RM4.10. To subscribe to live signal, email us at futures.coin@gmail.com
Plan A : Sell if market rebounded and resisted around 2574. Targets are 2547, 2513 and 2490.
Plan B : Buyer recommended to stay out. Unless market support above 2537. Targets are 2559, 2570 and 2581.
Plan C : Above 2574, no fresh position.
Plan D : Below 2537, no fresh position.
*Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters 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.
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