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Author: Futurescoin   |   Latest post: Thu, 3 Dec 2020, 2:50 AM

 

Daily Futures Trading Strategy 22 October 2020

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                                                                FUTURESCOIN IS GOING GLOBAL

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

 
Wall Street's three major averages closed lower on Wednesday after a volatile trading session, as investors worried whether difficult negotiations in Washington would produce a deal for a fresh U.S. coronavirus stimulus package.
 

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Plan A : Remain sell as long as market trades below 28192. Targets are 27896 and 27787.
 
Plan B : Consider buy only if market able to support well above 27787 and rebound. Targets are 27896 and 28111.
 
 
E-Mini S&P 500
 

Stocks fell slightly on Wednesday as House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin continued their negotiations on a new fiscal stimulus package.

The Dow slipped 97.97 points, or 0.4%, to 28,210.82. Earlier in the day, the 30-stock average traded more than 100 points higher. The S&P 500 dipped 0.2% to 3,435.56 and the Nasdaq Composite slid 0.3% to close at 11,484.69.

The fate of coronavirus relief may in part be tied to reports on the health of the U.S. labor market, with the latest update to jobless claims totals due Thursday at 8:30 a.m. ET.

Economists polled by Dow Jones expect the Labor Department to show first-time applicants for state unemployment insurance to have totaled 875,000 during the week ended Oct. 17.

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Plan A : Short if market failed to support above 3400. Targets are 3374, 3348 and 3321.

Plan B : Long if market doesn't retrace much and supported firm above 3400. Targets are 3417, 3430 and 3448.

 
 
E-Mini Nasdaq
 

Futures contracts tied to the major U.S. stock indexes fell in the overnight session Wednesday evening and suggested further losses ahead for markets when regular trading resumes.

Though the overnight session began with modest moves, futures came under pressure after U.S. officials said Iran is taking steps to interfere in the U.S. presidential election, and Russia has obtained American voter information.

The announcement from the nation’s top intelligence officials came amid an already-fierce election season and adds to uncertainty as the U.S. tries to navigate the health and economic fallout caused by the coronavirus.

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Plan A : Long if market doesn't retrace much and supported firm above 11547. Targets are 11578, 11605 and 11641.

Plan B : Short if market failed to support above 11547. Targets are 11502, 11462 and 11418.

 
 
HSI
 
Hong Kong shares ended higher for a fourth consecutive session on Wednesday, as hopes for a new round of U.S. fiscal stimulus and strong third quarter results due to China's accelerated economic recovery boosted sentiment
 

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Plan A : Attempt buy if market supported firmly above 24616. Targets are 24755 and 24813.

Plan B : Consider selling if market fails to support above 24611. Targets are 24516 and 24423.
 
 
 
WTI Crude
 
Oil prices dropped Wednesday after U.S. inventory figures showed demand weakening for refined products as global COVID-19 cases spiked.
 

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Plan A : Attempt sell if oil price falls below 40.5. Targets are 39.9 and 38.7


Plan B : Consider long only if oil price test support at 39.9 and rebound. Targets are 40.5 and 41.2

 
 
Gold
 
Gold rose 1% to its highest in over a week on Wednesday as investor optimism that a U.S. coronavirus aid package will be announced before the Nov.3 presidential elections pressured the dollar and bolstered bullion's appeal as an inflation hedge.
 

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Plan A : Short if gold price recovers but fails to breach above 1935. Targets are 1910 and 1893.
 
Plan B : Consider buy only if gold price holds resiliently above 1910. Targets are 1923 and 1935.
 
 

 

 

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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