7 Dec 2023 Foreign

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

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E-Mini Dow

U.S. stocks ended down on Wednesday, pulled lower by megacaps and energy shares as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year.

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Plan A: Remain short as long as market trades below 36132. Targets are 35937 and 35839.

Plan B: Consider long if market stays above 36132. Targets are 36230 and 36328.

HSI

Hong Kong stocks rose on Wednesday as bargain-buyers stepped in after three days of losses following soft US jobs data that reinforced optimism the Federal Reserve could cut interest rates in the new year.

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Plan A: Remain short if the market stays below 16719. Targets are 16250 and 16049.

Plan B: Consider long only if the market stays above 16719. Targets are 16875 and 17031.

WTI Crude

West Texas Intermediate (WTI) closed lower for a fifth-straight session early on Wednesday, falling under the US$70.00 mark for the first time since early July, even as US inventories fell last week.

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Plan A: Remain short as long as oil price stays below 71.88. Targets are 68.75 and 67.97.

Plan B: Consider long only if oil price stays above 71.88. Targets are 72.66 and 74.22.

Gold

Gold firmed on Wednesday as Treasury yields eased, stabilizing after a rapid retreat from a record high hit earlier this week, while investors braced for the U.S. jobs report for further clues on how soon interest rate cuts may materialize.

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Plan A: Remain short as long as gold price stays below 2046.87. Targets are 2015.62 and 2000.

Plan B: Attempts long only if gold price stays above 2046.87. Targets are 2062.5 and 2078.12.

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.