7 Sep 2023 Foreign

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

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E-Mini Dow

Wall Street fell on Wednesday after stronger-than-expected services sector data fueled concerns of sticky inflation and interest rates staying higher for longer, while a drop in shares of Apple further weighed down the indexes.

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Plan A: Remain short as long as market trades below 34766. Targets are 34375 and 34277.

Plan B: Consider long if market stays above 34766. Targets are 34863 and 34961.

HSI

Hong Kong ended marginally lower on Wednesday following losses on Wall Street fuelled by worries that a pick-up in oil prices could lift inflation and pressure the Federal Reserve to hike interest rates again.

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Plan A: Remain short if the market stays below 18594. Targets are 18359 and 18203.

Plan B: Consider long only if the market stays above 18594. Targets are 18672 and 18828.

WTI Crude

crude oil rose to a fresh 10-month high on Wednesday as traders assess the impact of Saudi Arabia's day-prior announcement that its one-million barrel per day production cut will be extended to year end.

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Plan A: Remain long as long as oil price stays above 85.94. Targets are 88.28 and 89.06.

Plan B: Consider short only if oil price stays below 85.94. Targets are 85.16 and 84.38.

Gold

Gold extended its retreat to a fifth day on Wednesday as yields climbed and bets for higher-for-longer U.S. interest rates and global growth concerns continued to drive safe-haven flows into the dollar.

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Plan A: Remain short as long as gold price stays below 1925.78. Targets are 1914.06 and 1910.15.

Plan B: Attempts long only if gold price stays above 1925.78. Targets are 1929.68 and 1937.50.

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.