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Daily Futures Trading Strategy 29 June 2015

Futurescoin
Publish date: Mon, 29 Jun 2015, 10:34 AM
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HSI Futures

 

U.S. equity futures dropped sharply and bond futures rallied at the beginning of trading on Sunday as the chances increased that Greece would default on its debt and exit the euro zone. Greece said it would introduce capital controls and keep its banks closed on Monday after international creditors refused to extend the country's bailout and people queued to withdraw cash.

Chinese stocks plunged over 7 percent on Friday, with one key index recording its biggest fall since 2008, hit by tight liquidity conditions ahead of the quarter-end and uncertainty over the central bank's easing policy. The People's Bank of China (PBOC) lowered its benchmark lending rates by 25 basis points to 4.85 percent on Saturday, marking the fourth reduction since November, in an effort to prop up a slowing economy.

Plan A : Above 26801, do nothing
Plan B : Below 26521, do nothing
Plan C : Consider selling if market trades below 26676
Plan D : Cut above 26801
Plan E : Buying to be considered only if market rebounds strongly from 26521
Plan F : Cut below 26521


FKLI

Market continued to perform badly with market touching an intraday low of 1794.5 before settling at 1705. Any rebounds could be minimal with bad news lingering in the regional markets. 


Plan A : Attempt to sell if market stays below 1707

Plan B : Cut above 1714

Plan C : No buying to be attempted for the time being



FCPO


FCPO had a wild run last Friday with China market plunged over the second session trading. However, crude palm oil prices made its way up towards the eleventh hour and settled at positive net change. Dalian and soybean oil are relatively lower today while Ringgit further weakened to RM 3.78 against the greenback.


Plan A : Overnight buyer hold on to position. Support is looking at 2251. Target is 2290, 2314 and 2362.

Plan B : Intraday investor may buy if market could support above 2262. Target is 2290 and 2314.

Plan C : Fresh seller may stay out today.

Plan D : Above 2280, do nothing.

Plan E : Below 2250, do nothing.  

 

 

 

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*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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