Sunday, March 6, 2022

07 March 2022 Foreign

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


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E-Mini Dow


Wall Street ended lower on Friday as the war in Ukraine overshadowed an acceleration in U.S. jobs growth last month that pointed to strength in the economy.

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Plan A: Remain sell as long as market trades below 33519. Targets are 33154 and 33058.

Plan B: Consider long if market trades firmly above 33154 and rebound. Targets are 33354 and 33519.



E-Mini S&P 500

U.S. equity futures fell Sunday evening as U.S. oil price momentarily jumped to their highest level since 2008 amid the ongoing war between Russia and Ukraine.

On Friday, the Dow fell 179 points, or 0.5%, to notch its fourth straight losing week. The S&P 500 lost 0.7%.

European stocks were down sharply and finished the week 7% lower, marking their worst stretch since March 2020. The VanEck Russia ETF, one of the few Russia-linked funds still trading, fell 2% to finish the week down more than 60%.

Positive data from the U.S. Labor Department wasn’t enough for investors to shrug off concerns about the war between Russia and Ukraine. On Friday the Bureau of Labor Statistics reported the economy added 678,000 jobs in February. The monthly jobs gain topped economists’ expectations of 440,000, according to Dow Jones. The unemployment rate slipped to 3.8%.

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Plan A: Long if market retraced but supported firm above 4268. Targets are 4277 and 4286.

Plan B : Short if market failed to support above 4268. Targets are 4254 and 4249.




E-Mini Nasdaq

Stocks fell on Friday despite a stronger-than-expected jobs report as worrisome developments in Ukraine weighed on sentiment.

Nasdaq Composite moved down 1.66% to 13,313.44.

The decline for stocks followed reports that smoke was visible from a nuclear power plant in Ukraine — the largest in Europe — after Russian troops attacked. Reports Friday morning indicated that Russian forces had seized the plant in Zaporizhzhia. The U.S. embassy in Kyiv called the attack a war crime.

Government bond yields plunged as investors cut risk, with the benchmark 10-year Treasury falling to around 1.73%.

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Plan A: Long if market supported firm above 13607. Targets are 13639 and 13670.

Plan B : Short if market failed to support above 13607. Targets are 13575 and 13542.



HSI

Hong Kong stocks fell on Friday, weighed down by worries over the worsening Ukraine crisis and the domestic property market, while investors nervously awaited clues on policy easing steps from the upcoming Congress meeting.

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Plan A: Remain short as long as market stays below 21933. Targets are 21564 and 21336.

Plan B : Consider long if market supports firmly above 21564 and rebound. Targets are 21933 and 22121.


WTI Crude

U.S. crude oil surged more than 8% in early trading on Sunday evening as the market continued to react to supply disruptions stemming from Russia's ongoing invasion of Ukraine and the possibility of a ban on Russian oil and natural gas.

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Plan A: Remain buy as long as oil price stays firm above 118.6. Targets are 127.6 and 133.2. 

Plan B : Consider short if oil price falls surges but fails to breach above 133.2. Targets are 118.6 and 115.2.



Gold

The war in Ukraine bolstered demand for safe-haven gold and extended rally in gold.

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Plan A: Remain buy as long as gold price trades firmly above 1957.3. Targets are 1997 and 2005.1.


Plan B: Consider short if gold price trades below 1981.2. Targets are 1974 and 1957.3.

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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