Monday, December 6, 2021

07 December 2021 Foreign

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


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E-Mini Dow


Wall Street's major averages closed higher on Monday with economically sensitive sectors and travel-related stocks advancing solidly as investors were encouraged by some optimistic comments from a top U.S. official on the latest COVID-19 variant.

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Plan A : Remain buy as long as market trades firmly above 34969. Targets are 35364 and 35581.

Plan B : Consider short if market surges but fails to breach above 35364. Targets are 35108 and 34914.



E-Mini S&P 500

The Dow erasing its losses from the previous week, as investors shook off fears around the emerging threat of the Covid omicron variant.

The S&P 500 rose 1.1% to 4,591.67.

The central bank is likely to decide to double the pace of its taper to $30 billion a month at its meeting next week, CNBC’s Steve Liesman reported Monday, based on comments by Fed officials. Initial discussions could also begin as soon as the December meeting about when to raise interest rates and by how much next year.

Tom Hainlin of U.S. Bank Wealth Management said investors are also focused on what the terminal interest rate will be and that he expects it to be lower that what investors are pricing in.

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Plan A : Long if market supported firm above 4612. Targets are 4623, 4631 and 4645.

Plan B : Short if market failed to support above 4612. Targets are 4600, 4591 and 4582.



E-Mini Nasdaq

Stock futures jumped early morning Tuesday after a rebound from a rollercoaster week as investors looked past the potential impact from the new omicron coronavirus variant.

Nasdaq 100 futures were up 0.77%.

Investors are betting that the new Covid-19 strain may cause milder illness than feared.

Investors are also weighing the likelihood that the Federal Reserve would begin to remove its massive pandemic easing policies and hike rates sooner than expected.

Fed officials suggest the central bank is likely to decide to double the pace of its taper to $30 billion a month at its December meeting next week. Initial discussions could also begin as soon as the December meeting about when to raise interest rates and by how much next year.

Market focus will shift to the new inflation data later this week. The consumer price index, which is expected to be even hotter than the prior month, could become the catalyst for the Fed to deliver faster tightening of its policies.

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Plan A : Long if market supported firm above 15927. Targets are 15956, 15987 and 16016.

Plan B : Short if market failed to support above 15927. Targets are 15896, 15862 and 15839.



HSI

China stocks rose on Monday while Hang Seng index tumbled about 1.76% as tech stocks fell.

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Plan A : Attempt buy if market trades firmly above 23538. Targets are 23762 and 23920.


Plan B : Consider selling if market surges but fails to breach above 23920. Targets are 23762 and 23538.


WTI Crude

Oil prices climbed by nearly 5% on Monday on hopes the Omicron coronavirus variant would have a less damaging economic impact if it's symptoms proved mostly mild and as some OPEC member countries signaled confidence in the market.

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Plan A : Remain buy as long as oil price trades firmly above 67.4. Targets are 70.1 and 70.8.

Plan B : Consider short if oil price surges but fails to breach above 70.8. Targets are 70.1 and 69.6.



Gold

Gold eased on Monday as sentiment for riskier assets improved and the dollar advanced, with moves limited by overall uncertainty over the Omicron coronavirus variant aead of this week's U.S. inflation numbers.

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Plan A : Remain sell as long as gold price stays below 1791.4. Targets are 1780 and 1768.7.


Plan B : Consider long if gold price trades resiliently above 1780 and rebound. Targets are 1791.4 and 1800.5.





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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