Monday, March 7, 2022

08 March 2022 Foreign

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


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E-Mini Dow


Megacap growth names and financial stocks dragged Wall Street's main indexes more than 1% lower on Monday, as the prospect of a ban on oil imports from Russia sent crude prices soaring and fueled concerns about spiraling inflation.

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Plan A: Remain sell as long as market trades below 33000. Targets are 32610 and 32200.

Plan B: Consider long if market trades firmly above 32610. Targets are 32810 and 33000.



E-Mini S&P 500

Stock futures fell slightly in early morning trading Tuesday following the S&P 500′s worst day since October, as investors remained on edge about surging oil prices and slowing economic growth amid Russia’s invasion of Ukraine.

S&P 500 futures traded 0.54% lower. 

The overnight action came after a steep sell-off on Wall Street where the S&P 500 dropped nearly 3% for its biggest one-day decline in more than a year.

Investors continued to monitor developments of escalated geopolitical tensions. Ukraine said Moscow is seeking to manipulate its cease-fire arrangement by only allowing Ukrainian civilians to evacuate to Russia and Belarus.

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Plan A: Short if market failed to support above 4166. Targets are 4157 and 4149.

Plan B: Long if market retraced but supported firm above 4166. Targets are 4172 and 4189.






E-Mini Nasdaq

Stocks fell again on Monday, following four straight weeks of declines, as investors grew increasingly concerned higher energy prices stemming from the Russia-Ukraine conflict would slow the economy and raise inflation.

The Nasdaq Composite lost 3.6% to 12,830.96, and now sits in bear market territory, more than 20% from its all-time close.

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 as gauged by Dow Jones. The unemployment rate slipped to 3.8%.

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Plan A: Remain short as long as market stays below 13198. Targets are 13164 and 13139.

Plan B : Consider long if market supports firmly above 13198 and rebound. Targets are 13221 and 13256.



HSI

Hong Kong shares slumped to their lowest levels since July 2016, as surging commodity prices, escalating Russia-Ukraine crisis and fresh coronavirus cases kept investors on edge on Monday.

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Plan A: Remain short as long as market stays below 21250. Targets are 20850 and 20600.

Plan B : Consider long if market supports firmly above 20700 and rebound. Targets are 21100 and 21250.





WTI Crude

Oil prices jumped on Monday to their highest levels since 2008 as the United States and European allies considered banning Russian oil imports while it looked less likely that Iranian crude would return switftly to global markets.

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Plan A: Remain buy as long as oil price stays firm above 115.50. Targets are 121.80 and 126.50.

Plan B : Consider short if oil price falls back below 114. Targets are 112 and 110.



Gold

Spot gold gained 0.6% to $1,980.52 per ounce, after earlier scaling its highest since Aug. 19, 2020 at $2,002.31. gold held firm on strong safe-haven demand.

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Plan A: Remain buy as long as gold price trades firmly above 1964. Targets are 2000 and 2007.

Plan B: Consider short if gold price trades below 1963. Targets are 1955 and 1942.

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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