Wednesday, January 10, 2024

11 Jan 2024 Foreign


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


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E-Mini Dow

U.S. stocks rose on Wednesday, building steam on strength in megacaps, ahead of inflation reports and major bank earnings later in the week.

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Plan A: Remain long as long as market trades above 37500. Targets are 37744 and 37841.

Plan B: Consider short if market stays below 37500. Targets are 37451 and 37402.



HSI
Hong Kong shares finished with yet another loss on Wednesday as worries over China's economy continue to weigh on sentiment, while traders also tracked a tepid performance on Wall Street.

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Plan A: Remain short if the market stays below 16406. Targets are 16094 and 15938.

Plan B: Consider long only if the market stays above 16406. Targets are 16563 and 16719.

WTI Crude
West Texas Intermediate (WTI) crude closed lower on Wednesday, falling off early highs as Yemen's Houthi militants launched their largest attack to date on Red Sea shipping after the Energy Information Administration reported an unexpected rise in US oil inventories

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Plan A: Remain short as long as oil price stays below 71.88. Targets are 71.09 and 70.31.

Plan B: Consider long only if oil price stays above 71.88. Targets are 72.27 and 73.05.


Gold
Gold prices eased on Wednesday ahead of U.S. inflation data that could shape the Federal Reserve's outlook on interest rate cuts this year, although a softer dollar kept a floor under prices.
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Plan A: Remain short as long as gold price stays below 2054.68. Targets are 2031.25 and 2015.62.
Plan B: Attempts long only if gold price stays above 2054.68. Targets are 2062.50 and 2070.31.


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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