Gasoline Market Update

Nymex reformulated gasoline blendstock for January RBF5, +0.82%  — the benchmark gasoline contract — rose 1 cent, or 0.6% $1.52 a gallon.

Oil futures edge higher on report of fire in Libya

Crude-oil futures edged higher in Asian trade Monday on reports of a fire at oil storage terminals at a Libyan oil terminal.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLG5, +1.10%  traded at $55.34 a barrel at last check, up $0.61 in the Globex electronic session. February Brent crude on London’s ICE Futures exchange LCOG5, +1.04%  rose $0.47 to $59.92 a barrel.

Nymex crude lost 4.20% last week and Brent crude was down by 3.14% last week. Both the oil benchmarks have fallen for five consecutive weeks.

KLSE IForex Recommendations

TRADING TIPS :

USD/JPY hit 120.19 during European afternoon trade, the pair’s highest since December 9; the pair subsequently consolidated at 120.14.The pair was likely to find support at 118.80, the low of December 19 and resistance at 121.00The U.S. dollar held steady against the yen on Tuesday, hovering at two-week highs and within close distance of a seven-year peak as expectations for a U.S. rate hike in 2015 continued to support demand for the greenback.The dollar remained broadly supported after the Federal Reserve signaled last week that it was on track to raise interest rates next year but said it was taking a patient stance.The yen shrugged off the Bank of Japan’s Monthly Report on Recent Economic and Financial Developments.


INTRADAY OUTLOOK
Support: 120.30
Resistance: 120.85

RECOMMENDATION:
1. Buy USD/JPY Above 120.90-TG:1.121.10/121.40 SL 120.60
2. Sell USD/JPY Below 120.25-TG:1.120.05/119.75 SL 120.55

INTRADAY OUTLOOK
Immediate Support: 1.1610
Immediate Resistance: 1.1650

RECOMMENDATION:
1. Buy USD/CAD Above 1.1655-TG:1.1675/1.1705 SL 1.1625
2. Sell USD/CAD Below 1.1605-TG:1.1585/1.1555 SL 1.1635

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Oil prices rose on Monday, after dropping for the past two sessions, as escalating clashes in Libya stoked worries about supply from the OPEC member.A fire caused by fighting at one of Libya’s main export terminals has destroyed 800,000 barrels of crude – more than two days of the country’s output, officials said, amid clashes between factions battling for control of the nation..”Libya, and all the other problems, warrants some kind of risk premium,” said Jonathan Barratt, chief investment officer at Sydney’s Ayers Alliance. “Oil is at a level where people are happy to build in a risk premium,”

TRADING STRATEGY :

BUY GOLD ABOVE 1200 TARGET 1205 1211 SL 1194
SELL GOLD BELOW 1192 TARGET 1187 1181 SL 1198

KLSE Stock Recommendations

MARKET UPDATES :

Trading in the shares of Nakamichi Corporation Bhd will continued to remain suspended until further notice, said Bursa Malaysia.The local bourse said the company had failed to submit its quarterly report for the financial period ended September 30, 2014, for release within the stipulated timeframe.Bursa Securities shall suspend the trading in the securities of such listed issuer if it failed to issue the outstanding financial statements within five market days after the expiry of the relevant timeframes.


STOCK RECOMMENDATION :

BUY NOBLE GROUP AT CMP 1.115 TARGET 1.150 1.210 SL 1.085