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Author: Futurescoin   |   Latest post: Wed, 20 Jan 2021, 3:12 AM

 

Daily Futures Trading Strategy 6 January 2021

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

 

 
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E-Mini Dow

Shares on Wall Street ended higher on Tuesday in choppy trading, as investors took advantage of the previous session's slump to buy them back, ahead of the outcome of the Senate runoff elections in the battleground state of Georgia, which will determine the balance of power in Washington.
 

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Plan A : Remain buy as long as market stays firm above 30225. Targets are 30335 and 30471.
 
Plan B : Short if market fails to hold above 30225. Targets are 30115 and 29980.
 
 
E-Mini S&P 500

Stocks rose on Tuesday, recovering some of their sharp losses from the previous session, as traders made bets for a strong global economic recovery.

The S&P 500 advanced 0.7% to 3,726.86.

Sentiment also got a boost from stronger-than-expected U.S. manufacturing data. The Institute for Supply Management said its manufacturing index rose to 60.7 in December — its highest level since August 2018 — from 57.5 in November. Economists polled by Dow Jones expected the index to come in at 57.
 

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Plan A : Short if market failed to support above 3692. Targets are 3667 and 3642.

Plan B : Long if market doesn't retrace much and supported firm above 3692. Targets are 3708 and 3725.
 

 
E-Mini Nasdaq

U.S. stock futures were mixed early Wednesday morning as Wall Street kept an eye on two runoff elections in Georgia that will determine control of the Senate.

the Nasdaq Composite climbed nearly 1% to 12,818.96.

The benchmark 10-year Treasury note yield, meanwhile, reached 1% for the first time since March.

Some on Wall Street fear that a Democrat-controlled Senate could lead to higher corporate taxes and tougher regulations on companies, which could weigh on the broader market. However, this outcome could also facilitate the passing of additional fiscal stimulus, which could give a boost to companies hit hardest by the coronavirus pandemic.
 

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Plan A : Short if market failed to support above 12588. Targets are 12548, 12505 and 12450.

Plan B : Long if market doesn't retrace much and supported firm above 12588. Targets are 12615, 12651 and 12682.

 
 
HSI
 
Hong Kong shares settled higher on Tuesday for a fifth straight session, led by telecom stocks after the New York Stock Exchange said it would not delist three Chinese telecom firms targeted by the outgoing Trump administration.
 

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Plan A : Remain buy as long as market stays firm above 27570. Targets are 27772 and 27940.
 

Plan B : Consider short only if market surges but fails to breach above 27772. Targets are 27610 and 27570.
 
 
 
WTI Crude
 
Oil price settled 4.85%, or $2.31 higher at $49.93 per barrel, after earlier jumping more than 5% to trade as high as $50.20 per barrel after Iran claimed it detained an oil tanker "due to repeated violations of marine environmental laws." 
 

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Plan A : Remain buy as long as oil price stays firm above 48.2. Targets are 50.3 and 51.5

Plan B : Consider short if oil price surges but fails to breach above 50.3. Targets are 49.5 and 48.9
 

 
Gold
 
Gold hit a two-month high on Tuesday, buoyed by a weaker dollar and growing concerns about COVID-19 as investors awaited the outcome of U.S. Senate runoff elections in Georgia that could impact prospects for more fiscal stimulus.
 

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

Plan A : Remain buy as long as market stays firm above 1946.9. Targets are 1961.5 and 1979.4.
 
Plan B : Consider short only if gold price surges but fails to breach above 1961.5. Targets are 1947 and 1932.4.
 
 
 

 

 

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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