Nymex reformulated gasoline blendstock for March RBH5, -0.09% — the benchmark gasoline contract — down 1 cent, or 0.3%, to $1.621 a gallon.
Gasoline Market Update
Monday, 16 February 2015
Nymex reformulated gasoline blendstock for March RBH5, -0.09% — the benchmark gasoline contract — down 1 cent, or 0.3%, to $1.621 a gallon.
Oil trades atop $52-a-barrel as some bet prices have bottomed out
Crude-oil futures pared early gains in Asian trade Monday to trade near Friday’s close after rising for the last three consecutive weeks with some investors still betting that oil prices have bottomed out.
Sweet crude futures for delivery in March CLH5, -0.95% traded at $52.35 a barrel at last check, down 0.8%, or 41 cents, in the Globex electronic session.
KLSE Comex Recommendations
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
KLSE IForex Recommendations
TRADING TIPS :
GBP/USD hit 1.5419 during European morning trade, the pair’s highest since January 2; the pair subsequently consolidated at 1.5388.The pound had strengthened on Thursday after the BoE said inflation is likely to fall to zero in the first half of this year, but added that there was no threat of deflation taking hold in the U.K.In its quarterly inflation report, the BoE said “it is now more likely than not that CPI inflation will dip briefly below zero at some point in the first half of 2015,” and remain “close to zero” for most of the year.However, BoE Governor Mark Carney said there was not threat of persistent deflation as the decline in inflation was due to falling petrol, food and energy prices.In addition, the bank said it would now consider cutting interest rates below 0.5% if inflation dips more deeply into negative territory than expected.
INTRADAY OUTLOOK
Support: 1.5318
Resistance: 1.5420
RECOMMENDATION:
1. Buy GBP/USD Above 1.5422-TG: 1.5442/1.5472 SL 1.5392
2. Sell GBP/USD Below 1.5316-TG: 1.5296/1.5266 SL 1.5346
INTRADAY OUTLOOK
Immediate Support: 1.1361
Immediate Resistance: 1.1459
RECOMMENDATION:
1. Buy EUR/USD Above -1.1461 TG: 1.1481/1.1511 SL 1.1431
2. Sell EUR/USD Below -1.1359 TG:1.1339/1.1309 SL 1.1389
GBP/USD hit 1.5419 during European morning trade, the pair’s highest since January 2; the pair subsequently consolidated at 1.5388.The pound had strengthened on Thursday after the BoE said inflation is likely to fall to zero in the first half of this year, but added that there was no threat of deflation taking hold in the U.K.In its quarterly inflation report, the BoE said “it is now more likely than not that CPI inflation will dip briefly below zero at some point in the first half of 2015,” and remain “close to zero” for most of the year.However, BoE Governor Mark Carney said there was not threat of persistent deflation as the decline in inflation was due to falling petrol, food and energy prices.In addition, the bank said it would now consider cutting interest rates below 0.5% if inflation dips more deeply into negative territory than expected.
INTRADAY OUTLOOK
Support: 1.5318
Resistance: 1.5420
RECOMMENDATION:
1. Buy GBP/USD Above 1.5422-TG: 1.5442/1.5472 SL 1.5392
2. Sell GBP/USD Below 1.5316-TG: 1.5296/1.5266 SL 1.5346
INTRADAY OUTLOOK
Immediate Support: 1.1361
Immediate Resistance: 1.1459
RECOMMENDATION:
1. Buy EUR/USD Above -1.1461 TG: 1.1481/1.1511 SL 1.1431
2. Sell EUR/USD Below -1.1359 TG:1.1339/1.1309 SL 1.1389
KLSE Stock Recommendations
MARKET UPDATES :
The FBM KLCI index gained 11.88 points or 0.66% on Friday. The Finance Index increased 0.34% to 15922.45 points, the Properties Index up 1.01% to 1312.19 points and the Plantation Index rose 0.68% to 8164.92 points. The market traded within a range of 10.64 points between an intra-day high of 1800.95 and a low of 1790.31 during the session.
STOCK RECOMMENDATION :
BUY FELDA GLOBAL ABOVE 2.675 TARGET 2.725 2.890 SL 2.575
The FBM KLCI index gained 11.88 points or 0.66% on Friday. The Finance Index increased 0.34% to 15922.45 points, the Properties Index up 1.01% to 1312.19 points and the Plantation Index rose 0.68% to 8164.92 points. The market traded within a range of 10.64 points between an intra-day high of 1800.95 and a low of 1790.31 during the session.
STOCK RECOMMENDATION :
BUY FELDA GLOBAL ABOVE 2.675 TARGET 2.725 2.890 SL 2.575
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