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Author: Futurescoin   |   Latest post: Tue, 26 Jan 2021, 2:55 AM

 

Daily Futures Trading Strategy 1 December 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

 
Overnight Dow fell 0.91% to end at 29638 as investors took profits following a sharp rally in recent weeks that led to the benchmark's best November ever.
 

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Plan A : Attempt buy if market retraces but holds firmly above 29611. Targets are 29899 and 30000.
 
Plan B : Consider sell if market trades below 29899. Targets are 29709 and 29611.
 
 
E-Mini S&P 500
 

Stocks fell on Monday as traders booked some profits given the historically strong gains logged in November.

The Dow dropped 271.73 points, or 0.9%, to close at 29,638.64. The S&P 500 slid 0.5% to 3,621.63, and the Nasdaq Composite closed lower by 0.1% at 12,198.74.

Energy led the way lower in the S&P 500, losing 5.4% for its worst day since June 24.

As promising vaccine developments boosted confidence of a smooth economic re-opening, the S&P 500 and the Nasdaq climbed 10.8% and 11.8%, respectively, in November, their biggest monthly advances since April.

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Plan A : Short if market failed to support above 3637. Targets are 3612, 3586 and 3560.

Plan B : Long if market retraced but supported firm above 3637. Targets are 3652, 3670 and 3685.  
 

 
E-Mini Nasdaq
 

U.S. stock futures rose on Monday night after the major averages notched sharp monthly gains for November.

November’s rally came amid a slew of positive coronavirus vaccine news, which lifted hope of a strong economic recovery and sparked a surge in beaten-down value names. 

“Vaccine news has further buoyed spirits with several therapeutic/preventative lights now at the end of the pandemic tunnel being another set of positive data points,” wrote Tobias Levkovich, chief U.S. equity strategist at Citi. However, he added investors may be getting too complacent about the risks the market still faces.

Meanwhile, Federal Reserve Chairman Jerome Powell called the U.S. economic outlook “extraordinarily uncertain.”

“The rise in new COVID-19 cases, both here and abroad, is concerning and could prove challenging for the next few months,” Powell said in prepared remarks. “A full economic recovery is unlikely until people are confident that it is safe to reengage in a broad range of activities.”

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Plan A : Long if market doesn't retrace much and supported firm above 12292. Targets are 12320, 12355 and 12387.

Plan B : Short if market failed to support above 12292. Targets are 12250, 12213 and 12168.

 

 
HSI
 
Hong Kong stocks fell more than 2% on Monday on worries over Sino-U.S. tensions, although hopes for a vaccine-led global economic recovery next year, and strong China data helped the market post its best monthly gain in nearly two years.
 

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Plan A : Remain short as long as market stays below 26510. Targets are 26419 and 26238.

Plan B : Consider buy only if market test support at 26238 and rebound. Targets are 26419 and 26508.
 

 
 
WTI Crude
 
Oil declined on Monday on uncertainty about whether OPEC+ would agree to extend its deep output cuts at talks this week, but COVID-19 vaccine hopes kept crude benchmarks on track to rise by more than 25% in November.
 

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Plan A : Remain buy as long as oil price trades firmly above 44.2. Targets are 45.4 and 46.2    

Plan B : Consider sell if oil price fails to hold above 45.4. Targets are 44.8 and 44.2
 
 
 
Gold
 
Gold dropped to a five-month low on Monday and was on track for its worst month in four years as optimism over a swift vaccine-fueled economic recovery dented allure for safe havens.

 
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for December subscription.

 
Plan A : Remain sell as long as gold price stays below 1803.6. Targets are 1771 and 1753.3.
 
Plan B : Consider buy only if gold price test and holds resiliently above 1753.3. Targets are 1787 and 1803.
 
 
 

 

 

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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