SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Brent crude futures edged higher on Monday, adding to strong gains last week, on rising hopes the market has bottomed out though analysts warned it would still take a long time to clear a huge global glut. ,Brent futures (LCOc1) were trading at $35.28 per barrel at 1042 GMT (05:42 EST), up 18 cents from their previous close., Since Feb. 11, the last time Brent was below $30, the crude benchmark has risen some 17 percent, although prices are still a fraction of the $115 per barrel seen only 20 months ago.

• Gold futures pushed higher in European trade on Monday, as sharp declines on China’s stock market drove investors to seek shelter in the safe-haven asset.The Shanghai Composite Index tumbled by more than 4% in early trading to hit levels not seen since late 2014, as China’s central bank guided the yuan to its weakest level in three weeks.

• Silver futures fell during evening trade in the domestic market on Monday as investors and speculators exited positions in the precious metal after upbeat US economic data signaled strength in the world’s biggest economy despite global headwinds raising the case for the US Federal Reserve to hike interest rates this year after December’s initial lift-off dimming the lure for the bullion as a store of value.

TRADING STRATEGY :
BUY GOLD ABOVE 1235 TARGET 1240 1246 SL 1229
SELL GOLD BELOW 1225 TARGET 1220 1214 SL 1231

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