5 Jan 2024 Foreign

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

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E-Mini Dow

U.S. stocks continue to unwind some of the gains from late in 2023, with the S&P 500 falling for the third-straight day of the new year, as investors recalibrate the expected aggressiveness of the Federal Reserve in cutting interest rates.

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Plan A: Remain short as long as market trades below 37597. Targets are 37451 and 37353.

Plan B: Consider long if market stays above 37597. Targets are 37646 and 37744.

HSI

Hong Kong stocks ended marginally lower on Thursday, but bargain-buying after two days of losses helped pare a morning retreat fuelled by US Federal Reserve minutes that dented hopes for an early interest rate cut.

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Plan A: Remain short if the market stays below 16719. Targets are 16563 and 16484.

Plan B: Consider long only if the market stays above 16719. Targets are 16797 and 16875.

WTI Crude

West Texas Intermediate (WTI) crude oil closed lower on Thursday after the Energy Information Administration reported a drop in US oil inventories accompanied with a outsized build in gasoline and distillate stocks.

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Plan A: Remain short as long as oil price stays below 72.66. Targets are 71.09 and 70.31.

Plan B: Consider long only if oil price stays above 72.66. Targets are 73.05 and 73.44.

Gold

Gold held steady on Thursday after four sessions of decline as investors braced for the U.S. non-farm payrolls data that could influence the Federal Reserve's interest-rate path, while palladium prices slipped on a dim long-term demand outlook.

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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.