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Author: Futurescoin   |   Latest post: Fri, 14 Jun 2019, 12:17 PM

 

Daily Futures Trading Strategy 16 May 2019

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Gold


Gold steadied on Wednesday, holding just below the key $1,300 level, as global stocks retreated, pointing to reduced appetite for riskier assets while investors awaited clarity on the U.S.-China trade front.


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Plan A : Attempt selling if gold price fails to breach and stays firm above 1297.4

Plan B : Cut above 1302.8

Plan C : Consider buying if gold price stood firm above 1294.1

Plan D : Cut below 1288.8




HSI/HSI Warrants

 

U.S. stocks ended higher on Wednesday as reports that U.S. President Donald Trump would hold off on imposing tariffs on imported cars and parts eased growth concerns, even as economic data disappointed investors.

 

Hong Kong stocks rebounded to close higher on Wednesday as weak economic data from China reinforced expectations that Beijing will roll out more stimulus, while a slight softening in rhetoric from U.S. President Donald Trump eased trade worries.

 

 

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Plan A : Above 28259, no fresh position.

Plan B : Below 27886, no fresh position.

Plan C : Buy if market declines but does not breach below 27930. Targets are 27988 and 28030.

Plan D: Cut below 27865.
Plan E : Sell if market does not breach above 28128. Targets are 28060 and 27998. 

Plan F : Cut Above 28199. 

 

 

 

FKLI

 

FKLI sustained firm above 1600's for the whole session after it recovered from the support at 1595. However, the market failed to further surge after it tipped at 1610 and started to declined and closed at 1604.5. It seems to be a little shaky still, but if it can sustain above 1607.5 today, it may be a light at the end of the tunnel for the buyers.
 

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Plan A : Continue to sell if market does not breach 1607.5.

Plan B : Cut above 1611.

Plan C : Consider buying if market trades firm above 1598.

Plan D : Cut below 1594.

 



FCPO


FCPO opened high this morning and continue to surge up to 2075. Dalian and soybean oil are showing positive outlook and Ringgit slightly strengthen to RM4.15 against the greenback.


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Plan A : Buy if market supported firm above 2059. Targets are 2076 and 2089.

Plan B : Sell only if market failed to support above 2059. Targets are 2046 and 2033.

Plan C : Above 2064, no fresh position.

Plan D : Below 2054, no fresh position. 



 

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters 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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