Daily Futures Trading Strategy 20 August 2018

Futurescoin

Publish date: Mon, 20 Aug 2018, 12:09 PM

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Gold

Gold recovered some ground on Friday as a weakening U.S. dollar relieved pressure on prices, but the precious metal remained near 19-month lows and looked poised for its biggest weekly drop since May 2017.

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Plan A : Attempt buying if gold price holds firm above 1182

Plan B : Cut below 1175.1

Plan C : Consider selling if gold price recovers but fails to breach above 1186.3

Plan D : Cut above 1194.2

HSI/HSI Warrant

U.S. stocks closed higher on Friday, with the S&P 500 and the Dow Jones Industrial Average extending gains and the Nasdaq turning positive on reports of progress in trade disputes between the United States and its trading partners China and Mexico.

Hong Kong shares closed higher on Friday after five consecutive days of losses, as index heavyweight Tencent made rebound after its recent battering, and in response to hopes talks next week between the U.S. and China would ease trade tensions.

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Plan A : Above 27250, do nothing

Plan B : Below 26900, do nothing

Plan C : Attempt buying if market trades firmly above 27138

Plan D : Cut below 27080

Plan E : Consider selling if market surges but fails to breach and hold above 27250

Plan F : Cut above 27330

FKLI

FKLI was rather flat last Friday as it was trading within a tight trading range of 8-points. Investors were seen cautious despite gains in overnight Dow market. However, with news of China investment coming in, market could potentially surge today with target 1800-level in mind.

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Plan A : Attempt buying if market holds firm above 1779

Plan B : Cut below 1776

Plan C : Consider selling only if market test but fails to breach above 1788

Plan D : Cut above 1792

FCPO

FCPO flattened after a gap-up in the morning on Friday. Dalian and soybean oil are positive while Ringgit stays weak at RM4.10 against the greenback.

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Plan A : Buy only if market supported firm above 2247. Targets are 2262 and 2278.

Plan B : Sell if market failed to support above 2247. Targets are 2226 and 2214.

Plan C : Above 2257, no fresh position.

Plan D : Below 2237, 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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