Sunday, April 3, 2022

04 April 2022 Foreign

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


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E-Mini Dow


US stocks closed higher in a volatile session Friday as data showed a lower-than-expected growth in non-farm payrolls in March while the unemployment rate dropped to 3.6% the lowest since 3.5% in February 2020 at the start of the pandemic.

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Plan A: Remain short as long as market trades below 34830. Targets are 34570 and 34277.

Plan B: Consider long if market supports well above 34430. Targets are 34863 and 34960.


E-Mini S&P 500

Stocks were modestly higher on Friday as investors assessed a new quarter of trading and a troublesome bond market recession indicator.

The S&P 500 rose 0.34% to 4,545.86.

Investors were also digesting the official jobs report for March, which showed the U.S. economy adding 431,000 payrolls. The result was below the composite estimate of 490,000 from Dow Jones but above some of the lower-end estimates.

Investors appeared to largely shake off a recession signal from the bond market that was triggered after the closing bell Thursday and again on Friday morning. The 2-year and 10-year Treasury yields inverted for the first time since 2019.

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Plan A: Long if market retraced and supported firm above 4546. Targets are 4559, 4562 and 4575. 

Plan B : Short if market failed to support above 4546. Targets are 4538, 4521 and 4516.




E-Mini Nasdaq

U.S. stock index futures were flat during overnight trading Sunday, after the S&P 500 posted a third straight week of gains.

Nasdaq 100 futures declined 0.14%.

Investors are also monitoring the latest developments in Ukraine. German Chancellor Olaf Scholz said Sunday that Western nations will impost additional sanctions on Russia in the coming days.

On Wednesday the Federal Open Market Committee will publish the minutes from the central bank’s March meeting, giving investors a deeper understanding into how the Fed views market conditions.


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Plan A: Long if market supported firm above 14846. Targets are 14874 and 14909.

Plan B: Short if market failed to support above 14846. Targets are 14817 and 14782.



HSI

Hong Kong stocks ended higher on Friday, with property developers leading the gains on expectations of more economic stimulus after data showed factory activity slumped at the fastest pace in two years in March.

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Plan A: Remain long if market trades above 21700. Targets are 22500 and 22800.

Plan B: Consider short if market surges but failed to break above 22450. Targets are 21850 and 21560.





WTI Crude

Oil settled lower on Friday as members of the International Energy Agency (IEA) agreed to join in the largest-ever U.S. oil reserves release.

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Plan A: Remain short as long as oil price stays below 101.95. Targets are 98.83 and 98.05.

Plan B: Consider long only if oil price supports well above 98.05 and rebound. Targets are 100.13 and 101.56.





Gold

Gold retreated on Friday and was set to post a weekly decline after robust U.S. jobs data drove the dollar higher and bolstered bets that the Federal Reserve would aggressively raise rates.

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Plan A: Remain short as long as gold price stays below 1937.5. Targets are 1921.9 and 1914.1.

Plan B: Consider long if gold price supports well above 1921.9. Targets are 1933.6 and 1937.5.



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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