SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• West Texas Intermediate oil futures tumbled below the $27-level to re-approach the lowest level in almost 13 years in Europe trade on Thursday, as record crude inventories at the Cushing delivery hub underlined concerns over a supply glut. Crude oil for delivery in March on the New York Mercantile Exchange fell to an intraday low of $26.56 a barrel, before recovering slightly to trade at $26.88 by 08:55GMT, or 3:55AM ET, down 56 cents, or 2.02%. A day earlier, prices declined 49 cents, or 1.75%.

• Gold futures jumped to the highest level since May in Europe trade on Thursday, amid growing skepticism over the Federal Reserve’s ability to raise interest rates as much as it would like this year.Gold for April delivery on the Comex division of the New York Mercantile Exchange rose to an intraday peak of $1,215.30 a troy ounce, a level not seen in almost nine months, before falling back to trade at $1,207.80 by 08:00GMT, or 3:00AM ET, up $13.30, or 1.11%. A day earlier, gold shed $4.00, or 0.33%.

• Natural Gas futures slumped by 4 per cent in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as forecasts calling for warmer than average temperatures in the US later in February threatened to curb the demand for the heating fuel in the world’s biggest gas consuming nation.

TRADING STRATEGY :
BUY GOLD ABOVE 1220 TARGET 1225 1231 SL 1214
SELL GOLD BELOW 1215 TAGRET 1210 1204 SL 1221

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg