Daily Archives: March 8, 2016

8Mar
comex

Comex Trading Signals and Market News – 08 March 2016

INTERNATIONAL COMMODITY NEWS :

  • Crude oil futures have continued to gain today to hit above $36 per barrel mark – their highest in around five weeks amid a growing consensus that a multi-year low around $26 per barrel might have already emerged as a bottom for the commodity.WTI Crude oil futures witnessed good buying this week amid supportive cues from equities and a continued drop in the US rig counts.
  • Oil prices rose on Monday as tightening supply and an improving global outlook boosted market sentiment. The number of rigs drilling for oil in the U.S. fell below 400 for the first time since the financial crisis. The number of U.S. oil-drilling rigs has fallen sharply since oil prices began to fallExpectations of tightening supply and growing demand have fulled hopes that the oil market may have bottomed out.
  • Gold futures edged lower in European trade on Monday, but held near the prior session’s 13-month high as market players awaited comments from a pair of Federal Reserve officials later in the session for further clues on the path of future rate hikes.Federal Reserve Governor Lael Brainard is due to deliver a speech titled “Economic Outlook, Liquidity and Resilience” at the Institute of International Bankers Annual Washington Conference, in Washington D.C. at 18:00GMT, or 1:00PM ET, Monday.

ECONOMY NEWS :

  • The former head of a prominent British business lobbying group, who quit his post because he supports Britain’s exit from the European Union, accused Prime Minister David Cameron of scaremongering in comments published on Monday.British Chambers of Commerce (BCC) director general, John Longworth, resigned late on Sunday after he breached the group’s neutral stance on the in-out referendum to be held on June 23 by saying that the EU was incapable of meaningful reform and Britain could have a bright economic future outside the bloc.
  • Greece’s finance minister urged international lenders on Monday to complete their review of his country’s reform    measures by May 1 and bring to an end lengthy discussions over pension cuts.Disagreements between the International Monetary Fund (IMF) and Athens’s EU lenders over additional reforms Greece must implement to achieve its fiscal targets in 2018 are delaying the first review of its latest bailout, a hurdle the Greeks desperately need to clear to open the way for debt relief talks.
  • The Bank for International Settlements (BIS) warned that a global storm was rising for the world’s economy as central banks pushed rates into negative territory and may be running out of effective options.“The uneasy calm has given way to turbulence,” BIS chief Claudio Borio began his media brief on a quarterly report released on Sunday by the institution hailed to be the central bank of the central banks.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1268 TARGET 1273 1279 SL 1262
  • SELL GOLD BELOW 1257 TARGET 1252 1246 SL 1263

For more information about Commodity Market Trading or Commodity Trading Signals, Please visit- EPIC RESEARCH MALAYSIA.

8Mar
Stacks of coins with the word FOREX isolated on white

IForex Market Trading Signals and News – 08 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar pushes higher, euro hit by weak German data
  • Forex -Aussie, kiwi pull away from multi-month highs vs. greenback
  • Forex -Easing expectations send euro lower

EUR/USD
The EURUSD failed to continue its bearish momentum last week topped at 1.1043 after formed two Dojis as you can see on my daily chart below. The bias is neutral in nearest term but as long as stays above 1.0900 price is still in a bullish phase testing 1.1065 and daily EMA 200 located around 1.1100. A clear break and daily close above that area could trigger further bullish pressure testing 1.1250 area. On the downside, we need a clear break below 1.0900 to keep the bearish scenario since formed the shooting star formation remains strong targeting 1.0800 or lower.

GBP/USD
The GBPUSD had a bullish momentum last week topped at 1.4248. The bias is bullish in nearest term testing 1.4300 area. Immediate support is seen around 1.4175. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 1.4080 – 1.4105 I prefer a bullish scenario at this phase and any downside pullback should be seen as a good opportunity to buy. There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4170 TARGET 1.4190 1.4220 SL 1.4140
  • SELL GBP/USD BELOW 1.4108 TARGET 1.4088 1.4058 SL 1.4138

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8Mar
klse

Financial Klse Malaysia Stock Market Trading Picks And News – 08 March 2016

MARKET UPDATES :

  • The FBM KLCI index gained 5.44 points or 0.32% on Monday. The Finance Index increased 0.21% to 14393.48 points, the Properties Index dropped 0.33% to 1136.46 points and the Plantation Index rose 0.50% to 7857.92 points. The market traded within a range of 16.11 points between an intraday high of 1710.20 and a low of 1694.09 during the session.
  • Actively traded stocks include AAX-WA, AAX, ARMADA, XOX-WA, XOX, AIRASIA, EKA, VIVOCOM, EKA -WA and APFT. Trading volume increased to 2436.57 mil shares worth RM2453.86 mil as compared to Friday’s 1779.23 mil shares worth RM2160.18 mil.
  • Leading Movers were GENTING (+28 sen to RM8.66), YTL (+3 sen to RM1.59), PETDAG (+30 sen to RM24.74), KLK (+28 sen to RM24.00) and BAT (+54 sen to RM57.00). Lagging Movers were PETCHEM (-3 sen to RM6.85), MISC (-10 sen to RM8.80), AMMB (-5 sen to RM4.48), CIMB (-3 sen to RM4.60) and KLCC (-1 sen to RM7.04). Market breadth was negative with 317 gainers as compared to 594 losers.
  • The KLCI closed higher at 1697.93 amid overnight gains in US Market. The performance of our benchmark was lifted following higher oil prices and better-than-expected US jobs data in February.

STOCK RECOMMENDATION :

  • BUY CTRB ABOVE 1.385 TARET 1.40 1.430 SL 1.370

For more information about KLSE stock market please feel free to visit EPIC RESEARCH MALAYSIA.

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