SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Oil prices stabilized in Europe trade on Thursday, one day after rallying 8% on the back of a broadly weaker U.S. dollar and amid ongoing rumors about a potential deal between Russia and OPEC to cut a global supply glut.On the ICE Futures Exchange in London, Brent oil for April delivery shed 14 cents, or 0.4%, to trade at $34.90 a barrel by 09:00GMT, or 4:00AM ET.

• Natural Gas futures tumbled by more than 1.5 per cent during noon trade in the domestic market on Thursday as investors and speculators resorted to a cautious stance ahead of weekly US storage numbers which may show that US gas supplies fell by 159 billion cubic feet last week compared to a five-year average withdrawal of 165 billion cubic feet.

• Copper futures advanced during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid hopes that fresh cash injection by the People’s Bank of China may spur lending and help bolster an economic recovery in the world’s biggest metals consumer lifting the demand outlook for Copper.

TRADING STRATEGY :
BUY GOLD ABOVE 1147 TARGET 1152 1157 SL 1141
SELL GOLD BELOW 1140 TAREGT 1135 1129 SL 1146

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