SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Natural gas futures plummeted by nearly 2 per cent in the domestic market on Friday crashing to the lowest level in seven weeks overseas as investors and speculators shunned the energy commodity as forecasts for above normal temperatures later in February across the US threatened to curb the demand for the heating fuel in the world’s biggest gas consuming nation.

• Oil prices gave back some of the previous session’s strong gains on Monday, with the U.S. benchmark falling back below the $29-level amid doubts over the likelihood of a collective OPEC cut happening anytime soon. Global oil prices surged more than 12% on Friday after a report once again suggested OPEC might finally agree to cut production to reduce the world glut, though traders remained skeptical over the potential for an agreement.

• Gold futures fell sharply in Europe trade on Monday, as the metal’s safe-haven appeal was dampened amid a recovery in global equity markets.Gold for April delivery on the Comex division of the New York Mercantile Exchange fell to an intraday low of $1,212.50 a troy ounce before paring some losses to trade at $1,213.30 by 08:00GMT, or 3:00AM ET, down $26.10, or 2.11%.Gold soared to a one-year high of $1,263.90 late last week, boosted by a flight to safety.

TRADING STRATEGY :
BUY GOLD ABOVE 1215 TARGET 1220 126 SL 1221
SELL GOLD BELOW 1205 TAGRET 1200 1194 SL 1211

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