SGX Comex Recommendations : Epic Research Singapore

INTERNATIONAL CURRENCY BUZZ :

• Oil prices rallied to the highest levels of the session in European trade on Wednesday, after OPEC and non OPEC producers agreed to hold their next meeting on a plan to freeze output levels in Doha, Qatar on April 17, even without the attendance of Iran.On the ICE Futures Exchange in London, Brent oil for May delivery rose 52 cents, or 1.34%, to $39.26 by 09:05GMT, or 5:05AM ET.

• Gold futures struggled near the prior session’s two-week low in European trade on Wednesday, as investors looked ahead to the Federal Reserve’s decision due later in the day for fresh guidance on the future path of U.S. interest rates.Gold for April delivery on the Comex division of the New York Mercantile Exchange inched up $1.30, or 0.11%, to trade at $1,232.30 a troy ounce by 07:55GMT, or 3:55AM ET.

• Copper futures advanced during late morning trade in the domestic market on Wednesday after the Chinese Premier Li Keqiang stressed that policymakers will undertake innovative measures to keep economic growth in the world’s biggest metals consuming nation on track bolstering demand outlook.Keqiang assured at the end of annual policy meetings that China will find new drivers if growth drops out of its normal range.

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

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