INTERNATIONAL COMMODITY NEWS :
Crude oil prices gained in early Asia on Monday as investors eyed a shaky cease fire in Ukraine. On the New York Mercantile Exchange, crude oil for delivery in March gained 0.56% at $53.97 a barrel. Crude oil futures rallied sharply on Friday, with prices continuing to recover from recent lows amid speculation productions cuts by drillers in the U.S and global oil companies will alleviate a glut in supplies. Industry research group Baker Hughes said Friday that the number of rigs drilling for oil in the U.S. fell by another 84 in the past week to 1,056, the lowest since August 2011.
TRADING STRATEGY :
BUY GOLD ABOVE 1235 TARGET 1240 1246 SL 1229
SELL GOLD BELOW 1226 TARGET 1221 1215 SL 1232
Crude oil prices gained in early Asia on Monday as investors eyed a shaky cease fire in Ukraine. On the New York Mercantile Exchange, crude oil for delivery in March gained 0.56% at $53.97 a barrel. Crude oil futures rallied sharply on Friday, with prices continuing to recover from recent lows amid speculation productions cuts by drillers in the U.S and global oil companies will alleviate a glut in supplies. Industry research group Baker Hughes said Friday that the number of rigs drilling for oil in the U.S. fell by another 84 in the past week to 1,056, the lowest since August 2011.
TRADING STRATEGY :
BUY GOLD ABOVE 1235 TARGET 1240 1246 SL 1229
SELL GOLD BELOW 1226 TARGET 1221 1215 SL 1232
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