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Daily Futures Trading Strategy 8 March 2018

Futurescoin
Publish date: Thu, 08 Mar 2018, 01:31 PM
Futurescoin
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GOLD


Gold prices slipped on Wednesday on profit taking after hitting a one-week high earlier on news that a top economic advisor to Trump administration had resigned, stroking fears of a trade war and knocking down the dollar.


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Plan A : Attempt buying if gold price stays resilient above 1323.6

Plan B : Cut below 1319.6

Plan C : Consider selling if gold price surges but fails to breach above 1330.1

Plan D : Cut above 1336.5



HSI

 

The S&P 500 ended slightly lower after Wednesday’s volatile session as investors struggled to get a read on U.S. trade policy after President Donald Trump promised hefty import tariffs but then said Mexico and Canada could be exempt.

 

Hong Kong shares followed world markets lower on Wednesday amid renewed fears of a global trade war following the resignation of Gary Cohn, a strong White House advocate for free trade.

 

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Plan A : Above 30441, do nothing

Plan B : Below 30103, do nothing



FKLI
 

FKLI gapped down upon opening yesterday due to Dow which plunges for more than 400-points, market gradually dipped down to 1830, then slowly recovered  to 1838 in the afternoon session but still being pressed down in the last 30-minutes to close at 1833.5. The market signal is still unclear due to the uncertainty in Dow which brings large impact on the regionals, thus the market is said to be choppy at this period of time. Traders are advised to trade carefully to avoid unnecessary losses.


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Plan A : Attempt selling if market trades below 1840.5
Plan B : Cut above 1842
Plan C : Consider buying if market supported above 1832
Plan D : Cut below 1830


FCPO

FCPO resume to walk down South after failing to support above 2470's. Dalian and soybean oil are weak today while Ringgit stays at RM3.90 against the greenback.

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Plan A : Buy if market supported above 2420. Targets are 2444 and 2569.

Plan B : Sell if market resisted around 2444. Targets are 2409 and 2375.

Plan C : Above 2444, no fresh position.

Plan D : Below 2420, 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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