Monday, December 7, 2020

08 December 2020 Foreign

           FUTURESCOIN IS GOING                       GLOBAL


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

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E-Mini Dow


Overnight Dow lost 148-points, following a more cautious move in global stocks earlier in the session after Washington imposed financial sanctions and a travel ban on some Chinese officials over their alleged role in Beijing's disqualification of elected opposition legislators in Hong Kong last month.

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Plan A : Remain buy as long as market stays firm above 29899. Targets are 30145 and 30255.

Plan B : Consider sell if market surges but fails to breach above 30255. Targets are 30145 and 29899.



E-Mini S&P 500

The Dow and S&P 500 fell on Monday following a record-setting session as traders worried about rising coronavirus cases and searched for clues on additional fiscal aid.

The S&P 500 dipped 0.2% to 3,691.96. The energy sector led the S&P 500 lower, sliding 2.4%. 

The U.S. has reported a record-high average number of cases over the past seven days of more than 196,200. That's up 20% when compared to the week-earlier period. The U.S. was also approaching a record-high number of daily Covid-related deaths.

The rising caseload has led to increased calls for additional fiscal stimulus. However, lawmakers are struggling to push through new legislation before year-end.

Lawmakers have been at a stalemate over additional fiscal aid for months, raising concern about the economic recovery from the coronavirus pandemic.

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Plan A : Short if market failed to support above 3671. Targets are 3646, 3620 and 3590.

Plan B : Long if market doesn't retrace much and supported firm above 3671. Targets are 3687, 3705 and 3722.


E-Mini Nasdaq

Stock futures fell on Monday night as traders kept an eye on negotiations for additional fiscal stimulus while the U.S. coronavirus caseload continues to rise.

The Nasdaq Composite, rose 0.5% to 12,519.95 and hit a fresh record high.

Facebook rose 2.1%, and Apple gained 1.2% to lead the Nasdaq higher. Tesla also contributed to the Nasdaq’s gains, advancing 7.1% and reaching an all-time high.

Republican and Democratic leaders said Monday that Congress is trying to extend government funding for an additional week to try and strike a deal on new Covid-19 aid. The news came after a bipartisan group of senators unveiled a $908 billion stimulus proposal last week.

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Plan A : Short if market failed to support above 12500. Targets are 12461, 12419 and 12378.

Plan B : Long if market doesn't retrace much and supported firm above 12500. Targets are 12532, 12568 and 12601.



HSI

Hong Kong stocks fell more than 1% on Monday, dragged down by losses in the financial sector, as investors worried over rising U.S.-China tensions.

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Plan A : Attempt sell if market stays below 26580. Targets are 26370 and 26238.

Plan B : Consider buy only if market tested support at 26238 and rebound. Targets are 26370 and 26508.



WTI Crude

Oil prices slipped on Monday as the positive impact from COVID-19 vaccine news and an OPEC+ deal on oil production cuts was undermined by surging coronavirus cases and heightened tensions between the United States and China.

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Plan A : Remain buy as long as oil price trades firmly above 45.4. Targets are 46.2 and 46.8    

Plan B : Consider sell only if oil price surges but fails to breach above 46.2. Targets are 45.4 and 44.2



Gold

Gold gained more than 1% to a two-week high on Monday, bolstered by expectations of fresh fiscal stimulus in the United States.

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Plan A : Remain buy as long as gold price trades firmly above 1853.9. Targets are 1869 and 1885.

Plan B : Consider sell only if gold price surges but fails to breach above 1873. Targets are 1865 and 1854.


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.






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