10 Jun 2022 Foreign

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

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E-Mini Dow

U.S. stocks sold off sharply Thursday as investor anxiety heightened ahead of data on Friday that is expected to show consumer prices remained elevated in May.

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Plan A: Remain short as long as market trades below 32813. Targets are 32227 and 31641.

Plan B: Consider long if market stays above 32422. Targets are 32520 and 32715.

E-Mini S&P 500

Stocks fell sharply on Thursday ahead of a key inflation report as investors worried about the state of the U.S. economy.

The S&P 500 dropped 2.38% to settle at 4,017.82.

Investors have been assessing the health of the U.S. economy in recent weeks, as the Fed has started hiking rates in an attempt to cool inflation without tipping the economy into recession.

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Plan A: Short if market failed to support above 4026. Targets are 4019 and 4002.  

Plan B: Long only if market supported firm above 4026. Targets are 4038 and 4043.

E-Mini Nasdaq

Before the opening bell on Friday, investors will get a look at the May consumer price index report.

Nasdaq Composite shed 2.75% to come in at 11,754.23.

Major tech stocks struggled, with Meta Platforms sliding 6.4% and Amazon dropping more than 4%. Apple sank 3.6%.

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Plan A: Short if market failed to support above 12284. Targets are 12253 and 12229.

Plan B: Long if market supported firm above 12284. Targets are 12318 and 12346.

HSI

Hong Kong's Hang Seng Index opened evenly but wobbled to close down 0.7%, as traders weighed the imposition of fresh Covid lockdowns. Brighter China trade figures for May limited the downside.

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Plan A: Remain short if the market stays below 21563. Targets are 21250 and 20938.

Plan B: Consider long only if the market stays above 21563. Targets are 21719 and 22188.

WTI Crude

Oil prices dipped on Thursday but still hovered near three-month highs after parts of Shanghai imposed new COVID-19 lockdown measures, as strong gains in refined products contributed to an ongoing bullish backdrop for crude oil.

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Plan A: Remain short as long as oil price stays below 122.66. Targets are 120.31 and 119.53.

Plan B: Consider long only if oil price stays above 119.53. Targets are 121.88 and 123.44.

Gold

Gold inched lower on Thursday pressured by elevated U.S. Treasury yields as the focus turned to U.S. inflation data for the Federal Reserve's interest rate hike plan after the European Central Bank signalled a July increase.

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Plan A: Remain long as long as gold price stays above 1843.8. Targets are 1853.5 and 1861.3.

Plan B: Attempts short only if gold price stays below 1839.8. Targets are 1835.9 and 1830.

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.