INTERNATIONAL COMMODITY NEWS :
Brent crude fell more than $1 on Wednesday, resuming its fall caused by a glut of oil in the market after a short-lived reprieve the previous day when a weaker dollar had provided some support. Worries about oversupply have pushed Brent down 40 percent since June. On Wednesday, as the dollar inched higher, Brent’s front-month futures contract traded down $1.06 at an intraday low of $65.78 a barrel at 0225 GMT (09:25 p.m. EST), remaining above a five-year low of $65.29 touched on Tuesday.
TRADING STRATEGY :
SELL GOLD BELOW 1225 TARGET 1220 1214 SL 1231
BUY GOLD ABOVE 1234 TARGET 1239 1245 SL 1228
Brent crude fell more than $1 on Wednesday, resuming its fall caused by a glut of oil in the market after a short-lived reprieve the previous day when a weaker dollar had provided some support. Worries about oversupply have pushed Brent down 40 percent since June. On Wednesday, as the dollar inched higher, Brent’s front-month futures contract traded down $1.06 at an intraday low of $65.78 a barrel at 0225 GMT (09:25 p.m. EST), remaining above a five-year low of $65.29 touched on Tuesday.
TRADING STRATEGY :
SELL GOLD BELOW 1225 TARGET 1220 1214 SL 1231
BUY GOLD ABOVE 1234 TARGET 1239 1245 SL 1228
No comments:
Post a Comment