Gasoline and Oil Market Update

Nymex reformulated gasoline blendstock for January RBF5, +1.19%  — the benchmark gasoline contract — rose 306 points to $1.5901 a gallon, while January diesel traded at $1.9868, 246 points higher.

Heating oil for January HOF5, +0.81% rose 3 cents to $1.99 a gallon, while natural gas for the same month NGF15, -4.16%  dropped 15 cents to $3.32 per million British thermal unit.

Crude back above $58 as oil prices continue rebound

Crude-oil futures rose early Monday as the excessive drop in oil prices in recent weeks sparked some buying interest and short-covering among investors before the end of the year, traders said.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLG5, +1.00%  jumped $1.29, or 2.3%, to 58.52 a barrel, hitting the highest level since Dec. 11, according to FactSet data. February Brent crude on London’s ICE Futures exchange LCOG5, +1.17%  rose $2.59 to $62.60 a barrel.

KLSE Stock Recommendations

MARKET UPDATES :

Bursa Malaysia has issued a new framework for the opening of trading and securities accounts for both retail investors and corporate clients. In a statement, it said the framework provides greater flexibility to Participating Organisations (POs) of Bursa Securities and Authorised Depository Agents of Bursa Depository (ADAs) in opening accounts. POs and ADAs are now able to allow individual investors to open the accounts through electronic mediums, it added. The amendments to the rules for this new framework has been approved by the Securities Commission and is effective Jan 15, 2015.



STOCK RECOMMENDATION :

BUY BONIA CORP ABOVE 0.900 TARGET 0.940 0.990 SL 0.860

KLSE IForex Recommendations

TRADING TIPS :

EUR/USD slipped 0.18% to trade near two-year lows at 1.2264 even as data earlier showed that the Gfk German consumer climate index rose to a six-month high of 9.0 in December from a reading of 8.7 the previous month. Analysts had expected the index to tick up to 8.9 this month. The dollar enjoyed support after the U.S. Department of Labor said on Thursday that the number of individuals filing for initial jobless benefits in the week ending Dec 12 fell by 6,000 to 289,000 from the previous week’s revised total of 295,000. Economist had forecast an increase of 1,000.The data came a day after the Fed said it would be “patient” before raising rates, guidance which it said is consistent with earlier assurances statement that rates would stay low “for a considerable time.

INTRADAY OUTLOOK
Support: 1.2191
Resistance: 1.2241

RECOMMENDATION:
1. Buy EUR/USD Above 1.2143-TG:1.2263/1.2293 SL 1.2113
2. Sell EUR/USD Below 1.2189-TG:1.2169/1.2139 SL 1.2219

INTRADAY OUTLOOK
Immediate Support: 1.5584
Immediate Resistance: 1.5647

RECOMMENDATION:
1. Buy GBP/USD Above 1.5650-TG:1.5670/1.5700 SL 1.5620
2. Sell GBP/USD Below 1.5582-TG:1.5562/1.5532 SL 1.5612

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices eased mildly in early Asia on Monday in thin pre-holiday trade. Investors looked ahead to year-end holiday demand prospects and U.S. GDP data on Tuesday for direction. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,194.90 a troy ounce, down 0.07%.Last week, gold futures came off earlier lows and moved into positive territory on Friday after investors felt the commodity had fallen too far amid a dollar rally. Gold prices have tumbled in recent months as markets prep for the Fed to raise interest rates, which is widely seen taking place in 2015, as higher borrowing costs chip away at the precious metal’s appeal as a hedge to weaker paper currencies, the product of loose monetary policy.



TRADING STRATEGY :
BUY GOLD ABOVE 1200 TARGET 1205 1211 SL 1194
SELL GOLD BELOW 1192.5 TARGET 1187.5 1181.5 SL 1198.5