Wednesday, March 2, 2016

SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :
  • Natural gas futures tumbled by more than 1 per cent during noon trade in the domestic market on Tuesday as investors and speculators exited positions in the energy commodity as fears mounted that demand for the heating fuel may wane with the winter season in the US the world’s biggest fuel consumer fast drawing to a close.
  • Gold futures rose in European trade on Tuesday, with prices re-approaching the highest level in a year amid mounting expectations for further stimulus measures from central banks in Asia and Europe.Weak Chinese manufacturing activity data released earlier underlined concerns over the health of the world’s second largest economy and raised hopes of additional stimulus measures in the near-term to support growth.
  • Oil prices edged higher on Tuesday as falling U.S. and OPEC production tightened an oversupplied market.U.S. government data on Monday showed crude output fell in December for a third straight month.Supply from OPEC has also declined, fallinby 280,000 barrels per day in February to 32.37 million.But weak economic data out of China and the prospect of slowing oil demand growth continued to weigh on prices.

TRADING STRATEGY :
BUY GOLD ABOVE 1245 TARGET 1250 1256 SL 1239
SELL GOLD BELOW 1240 TARGET 1235 1229 SL 1245

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