Crude, Gold, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Stocks are poised for a lower open in New York on Monday as investors await the inflation report for December this week.
It is the last full week of President Joe Biden's administration before President-elect Donald Trump takes the oath of office on Jan. 20.
(News Source: Trading Economics)
Plan A: Sell if market rebounded but resilient to 42,083. Targets around 41, 812/41, 662.
Plan B: Long only if market supported firm above 42,083. Targets around 42, 245/42, 411.
E-Mini S&P500
The S&P 500 Index closed down 1.94% last week, also its largest one-week point and percentage decline since Dec. 20. The S&P 500 is down 0.9% so far this year.
US stock futures showed little movement on Monday as investors brace for a week packed with critical economic data and major earnings reports.
On the economic front, attention will turn to Tuesday’s producer inflation figures and Wednesday’s consumer inflation data, along with key remarks from Federal Reserve officials.
(News Source: Trading Economics/Trading Economics)
Plan A: Short if prices go rebounded but resilient to 5843. Targets around 5815/5785.
Plan B: Long if prices are well supported above 5843. Targets around 5875/5899.
E-Mini Nasdaq
Canada's main stock index posted its biggest decline in over three weeks on Friday as rising prospects that the Federal Reserve would pause its interest-rate cutting cycle encouraged investors to take some profits after strong gains for the market in 2024.
(News Source: Reuters)
Plan A: Short if prices bounded but resilient to 20, 883. Targets are 20, 521/20, 227. Place a reasonable stop order based on the assessment of the risk and reward ratio
Plan B: Consider long if market supported firm above 20, 883. Targets are 21,234/21,520. Place a reasonable stop order based on the assessment of the risk and reward ratio.
WTI Crude Oil
he knee-jerk rise in Brent prices following tighter U.S. sanctions on Russian oil is likely overblown and not necessarily a trend, says Vishnu Varathan at Mizuho Securities. Brent crude jumped to over $80/bbl in response to a significantly widened net of sanctions on Russia's oil exports, hitting shipping, trading and insurance, the head of macro research for Asia excluding Japan notes. While there may be more upside shocks driven by fears of supply being materially crimped, the wider demand-supply dynamics still show relatively stable, not soaring, oil prices, he says. OPEC still has compelling spare capacity for an output increase and non-OPEC production outside of Russia has grown significantly, he says. Also, China may dampen and not inflame oil's bullish price dynamic, he adds. Brent is at $81.06/bbl.
(News Source: Reuters)
Plan A: Long if prices supported around 77.50. Targets are 78.69/80.12.
Plan B: Consider short if market breakout below 77.50. Targets are 76.27/75.19.
Gold
Gold prices edged lower on Monday as a stronger-than-expected U.S. jobs report reinforced the Federal Reserve's cautious stance on rate cuts and boosted the U.S. dollar, weighing on the bullion.
(News Source: Reuters)
Plan A: Consider long if market supported above 2663. Targets at 2682/2697.
Plan B: Short if market prices rebounded but failed to support above 2682. Targets are 2655/2636.
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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