Where Futures Lies

Daily Futures Trading Strategy 31 May 2018

Futurescoin
Publish date: Thu, 31 May 2018, 10:59 AM
Futurescoin
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Gold


Gold prices edged up early on Thursday, as the dollar eased from 6-1/2 month highs hit earlier this week on a weaker-than-expected U.S. economic data, with prices further supported by concerns about the trade war.


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Plan A : Buy if market retraced but supported above 1295.7. Targets are 1309.6 and 1323.5.

Plan B : Sell if market failed to breach above 1309.6. Targets are 1301.1 and 1292.3.

Plan C : Above 1309.6, no fresh position.

Plan D : Below 1295.7, no fresh position. 

 

 

HSI/HSI warrant

 

U.S. stocks ended higher on Wednesday, with the S&P 500 and Dow registering their biggest daily percentage gains since May 4, as signs emerged of an easing of political turmoil in Italy and a surge in oil prices boosted energy stocks.

 

Hong Kong stocks fell to a three-week closing low on Wednesday, with investor sentiment dampened by the political crisis in Italy and renewed fears over a Sino-U.S. trade war.


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Plan A : Above 30153, do nothing

Plan B : Below 29847, do nothing

Plan C : Attempt buying if market trades resiliently above 29982

Plan D : Cut below 29902

Plan E : Consider selling if market fails to break above 30053

Plan F : Cut above 30153

 

 

FKLI

 

FKLI gapped down for almost 20-points at yesterday's opening as the overnight Dow was closed down for almost 400-points due to the political turmoil stirred in Italy and the market fear resulted by the Sino-U.S. trade war. Our market then continued to plunge to record new low for the year 2018, at 1705.5 before it climbed to close higher at 1711.5. 

 

The market is indeed bearish now with all the internal political issues and the global issues, however sellers are advised to focus on profit taking to avoid any unnecessary losses and enter the market at the right level.

 

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Plan A: Attempt buying only if market supported and rebounds from 1716

Plan B : Cut below 1712

Plan C : Consider selling if market surges but fails to breach above 1728

Plan D : Cut above 1732



FCPO


FCPO dived to 2395 on Wednesday's morning, followed by a rebound later to 2444 as Dalian and soybean oil surge before the second session opening. Dalian and soybean oil are slightly positive today while Ringgit strengthens against the greenback at RM3.97.

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Plan A : Buy if market retraced but supported firm above 2427. Targets 2446 and 2463.

Plan B : Sell if market rebounded and resisted around 2446. Targets are 2427 and 2411.

Plan C : Above 2446, no fresh position.

Plan D : Below 2427, 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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