Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Stocks fell in light trading on Wednesday as investors took some risk off the table following big November gains.
Plan A: Long positions may be opened above 44800. Targets at 44852/44901
Plan B: Consider short position may be opened below 44800. Targets at 44720/ 44689
E-Mini S&P 500
The S&P 500 shed 0.38% to 5,998.74, snapping a seven-day winning streak.
hose moves followed the latest reading of the personal consumption expenditures price index, or PCE, released Wednesday morning. The Federal Reserve-favored inflation gauge rose 0.2% in October and 2.3% on an annualized basis, in line with expectations from economists polled by Dow Jones. Excluding food and energy, the so-called core measure increased 0.3% month over month and 2.8% compared with a year ago, also matching consensus forecasts.
Plan A: Short if market supported firm below 6021. Targets at 6012/5999
Plan B: Long if market break the resistance at 6021. Targets at 6038/6058
E-Mini Nasdaq
Big tech dragged US indices lower ahead of the Thanksgiving holiday on Thursday but that did not change the course of the indices for the month of November as they are set to end with solid gains.
The Nasdaq Composite fell 0.6% as all big tech barring Netflix, ended lower on Wednesday.
US markets will remain shut today and will close early on Friday and as a result, trading volumes have remained thin through the week.
Trade Recommendation :
Plan A : Short if market failed to support above 20772. Targets are 20647 and 20460. Place your stop of your choice but keep your losses at reasonable level.
Plan B : Long if market supported firm above 20772. Targets are 20960 and 21100.
(News Source : CNBC.com)
Hang Seng Index
The Hang Seng finished sharply higher on Wednesday with gains across the board, especially among the technology companies. The index surged 443.93 points or 2.32 percent to finish at 19,603.13 after trading between 19,061.60 and 19,660.99.
Hang Seng index pulled back 0.48%, after logging its largest jump this month in yesterday's performance.
The global forecast for the Asian markets suggests mild consolidation on renewed concerns over the outlook for interest rates. The European markets were mixed and the U.S. bourses were slightly soft and the Asian markets figure to follow the latter lead.
Trade Recommendation :
Plan A : Long if market retraced but supported firm above 19360. Targets are 19471 and 19608. Place your stop of your choice but keep your losses at reasonable level.
Plan B : Short if market rebounded but failed to support above 19460. Targets are 19300 and 19188. Place your stop of your choice but keep your losses at reasonable level.
(News Source : NASDAQ.com)
WTI Crude
Following an unexpected increase in U.S. gasoline stocks, oil prices fell on Thursday as investors turned their attention to this weekend's OPEC+ meeting, which will discuss oil output policies.
Due to the Thanksgiving holiday in the United States beginning on Thursday, trading is anticipated to be minimal.
According to Yeap Jun Rong, a market strategist at IG, oil is probably going to maintain its short-term bearish trend as the worries of a Middle East supply disruption and the higher-than-expected U.S. gasoline stockpiles subside.
The U.S. Energy Information Administration (EIA) said on Wednesday that gasoline stocks in the United States increased by 3.3 million barrels during the week ending November 22, defying forecasts of a slight decline in fuel supplies in anticipation of record holiday travel.
Plan A: Remain long as long as oil price stays above 68.76. Targets at 69.33/69.95 and stop loss at 68.42
Plan B: Consider short only if oil price stays below 68.40. Targets at 68.14/67.57 and stop-loss at 69.40
Gold
Higher-than-expected real interest rates and a stronger dollar may limit gold's short-term upside, Lombard Odier says in its 2025 outlook report. However, it still sees the precious metal as a valuable asset in 2025. As disinflation and rate cuts continue in major economies, investor demand is expected to pick up, providing support for gold prices, the report notes. Demand from central banks to diversify reserves is also likely to stay strong, Lombard Odier adds. "A dedicated allocation to gold into 2025 therefore plays a useful portfolio diversification role," it says. Spot gold is flat at $2,636.86/oz
Plan A: Remain short as long as gold price stays below 2630. Targets at 2612/2601
Plan B: Attempts long only if gold price stays above 2630. Targets at 2648/4658
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 the investment.
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