5 Oct 2023 Foreign

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

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E-Mini Dow

U.S. stocks ended higher and the Nasdaq gained more than 1% on Wednesday, a day after a sell-off, as the latest economic data showed U.S. private payrolls increased less than expected in September.

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Plan A: Remain long as long as market trades above 32812. Targets are 33203 and 33593.

Plan B: Consider short if market stays below 32812. Targets are 32617 and 32421.

HSI

Hong Kong stocks closed lower for a fourth straight session on Wednesday as rising bond yields stoked fears the US Federal Reserve will keep rates higher for longer.

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Plan A: Remain long if the market stays above 17188. Targets are 17500 and 17656.

Plan B: Consider short only if the market stays below 17188. Targets are 17031 and 16875.

WTI Crude

West Texas Intermediate (WTI) crude oil plunged nearly 6% on Wednesday to the lowest in more than a month as a report showed another drop in US oil inventories but rising supply at the Cushing storage hub and weak gasoline demand while OPEC+'s monthly meeting ended with continuing support for production cuts as economic gloom over high interest rates saps investors appetites for commodities.

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Plan A: Remain short as long as oil price stays below 87.50. Targets are 82.81 and 81.25.

Plan B: Consider long only if oil price stays above 87.50. Targets are 89.06 and 90.63.

Gold

Gold prices crept lower on Wednesday for the eighth consecutive session as elevated U.S. Treasury yields amid expectations that the Federal Reserve will keep interest rates higher for longer continued to weigh on investor sentiment.

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Plan A: Remain short as long as gold price stays below 1835.93. Targets are 1812.5 and 1804.68.

Plan B: Attempts long only if gold price stays above 1835.93. Targets are 1843.75 and 1851.56.

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.