SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL COMMODITY NEWS :

• Copper prices bounced back from six-and-a-half year lows on Wednesday, as the latest trade figures out of China eased some concerns over the health of the world’s second-biggest economy, while also pointing to strong demand for the red metal.

• West Texas Intermediate oil futures recovered from 12 year lows on Wednesday, amid speculation weekly supply data due later in the session will show U.S. crude inventories fell last week. The U.S. Energy Information Administration will release its weekly report on oil supplies at 15:30GMT, or 10:30AM ET, Wednesday. After markets closed Tuesday, the American Petroleum Institute, an industry group, surprised market participants and said that U.S. oil inventories declined by 3.9 million barrelsin the week ended January 8, compared to expectations for an increase of 2.0 million barrels.

• Natural Gas futures plummeted by almost 4 per cent in the domestic market on Tuesday as investors and speculators exited positions in the energy commodity as forecasts for a return of milder weather across parts of the US threatened to curb the demand for the heating fuel in the world’s biggest economy.

TRADING STRATEGY :
BUY GOLD ABOVE 1085 TARGET 1090 1096 SL 1079
SELL GOLD BELOW 1078 TARGET 1073 1067 SL 1084

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