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KLSE Comex Recommendations

Monday 19 January 2015

INTERNATIONAL COMMODITY NEWS :

Oil prices slumped in early Asia on Monday as the supply outlook remains robust despite a sustained drop in prices of more than 50% in the past six months.On the New York Mercantile Exchange, crude oil for delivery in February eased 0.78% at $48.75 a barrel. Last week, oil prices rallied sharply on Friday, as bullish comments made by the International Energy Agency helped ease concerns over a glut in global supplies. For the week, New York-traded oil futures inched up 33 cents, or 0.67%, the first weekly gain in eight weeks.Elsewhere, on the ICE Futures Exchange in London, Brent for March delivery jumped $1.90, or 3.94%, to settle at $50.17 a barrel on Friday.The International Energy Agency cut its forecast for the increase in non-OPEC oil supply this year by 350,000 barrels a day, amid indications lower prices had begun to curb output in some areas, including North America.



TRADING STRATEGY :
BUY GOLD ABOVE 1285 TARGET 1290 1296 SL 1279
SELL GOLD BELOW 1272 TARGET 1267 1261 SL 1278


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