INTERNATIONAL COMMODITY NEWS :
Oil prices steadied on Monday as falling U.S. oil rig counts and conflict in producer Libya were balanced by a slump in Chinese imports, pointing to lower fuel demand in the world biggest energy consumer.”Weak China trade data are likely to weigh on industrial commodity markets,” ANZ Bank analysts said in a note to clients.Global benchmark Brent crude oil for March was up 30 cents at $58.10 a barrel by 0140 GMT after rising as high as $59.06 earlier in the session.Oil prices steadied on Monday as falling U.S. oil rig counts and conflict in producer Libya were balanced by a slump in Chinese imports, pointing to lower fuel demand in the world biggest energy consumer.
TRADING STRATEGY :
BUY GOLD ABOVE 1240 TARGET 1245 1251 SL 1234
SELL GOLD BELOW 1228 TARGET 1223 1217 SL 1234
Oil prices steadied on Monday as falling U.S. oil rig counts and conflict in producer Libya were balanced by a slump in Chinese imports, pointing to lower fuel demand in the world biggest energy consumer.”Weak China trade data are likely to weigh on industrial commodity markets,” ANZ Bank analysts said in a note to clients.Global benchmark Brent crude oil for March was up 30 cents at $58.10 a barrel by 0140 GMT after rising as high as $59.06 earlier in the session.Oil prices steadied on Monday as falling U.S. oil rig counts and conflict in producer Libya were balanced by a slump in Chinese imports, pointing to lower fuel demand in the world biggest energy consumer.
TRADING STRATEGY :
BUY GOLD ABOVE 1240 TARGET 1245 1251 SL 1234
SELL GOLD BELOW 1228 TARGET 1223 1217 SL 1234
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