Thursday, September 24, 2015

SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :
  • Crude oil prices reversed early gains in Asia on Wednesday as weak China manufacturing estimates trumped U.S. industry data that showed a much larger than expected draw in U.S. stockpiles last week. On the New York Mercantile Exchange, WTI crude for November delivery traded down 0.33% to $46.20 a barrel.
  • Gold prices edged higher in European morning hours on Wednesday, as the stronger U.S. dollar continued to weigh on the precious metal, but disappointing Chinese manufacturing data increased safe-haven demand.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were up 0.14% at $1,126.30.
  • Brent crude oil rose toward $50 a barrel on Wednesday as a draw down in U.S. crude oil stocks outweighed the negative impact of weak economic manufacturing data from China. Oil prices have been depressed for more than a year and are now trading at less than half their peak levels in 2014 thanks to massive oversupply by oil producers in the Middle East and North America.

TRADING STRATEGY :
BUY GOLD ABOVE 1136 TARGET 1141 1147 SL 1130
SELL GOLD BELOW 1130 TARGET 1125 1119 SL 1136

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