INTERNATIONAL COMMODITY NEWS :
Investors sold crude oil futures early Monday in Asia with an over supplied market the main driver. On the New York Mercantile Exchange, crude oil for delivery in January tumbled to $56.77 a barrel, down 1.66%. It ended Friday at $57.81 a barrel, after hitting a daily low of $57.40, the weakest level since May 2009 .The head of OPEC said on Sunday the group had no target price for oil, signaling no change to a policy to maintain production levels which has contributed to sharp falls in the price of crude, unnerving global markets.
TRADING STRATEGY :
SELL GOLD BELOW 1213 TARGET 1208 1202 SL 1219
BUY GOLD ABOVE 1220.50 TARGET 1225.50 1231.50 SL 1214.50
Investors sold crude oil futures early Monday in Asia with an over supplied market the main driver. On the New York Mercantile Exchange, crude oil for delivery in January tumbled to $56.77 a barrel, down 1.66%. It ended Friday at $57.81 a barrel, after hitting a daily low of $57.40, the weakest level since May 2009 .The head of OPEC said on Sunday the group had no target price for oil, signaling no change to a policy to maintain production levels which has contributed to sharp falls in the price of crude, unnerving global markets.
TRADING STRATEGY :
SELL GOLD BELOW 1213 TARGET 1208 1202 SL 1219
BUY GOLD ABOVE 1220.50 TARGET 1225.50 1231.50 SL 1214.50
No comments:
Post a Comment