Crude Oil Technical and Fundamental Overview

Crude Oil costs snap five-day win streak as Syria stresses ease. Programming interface stock stream information beside control value slant advancement. Gold costs may break a gridlock on approaching Fed editorial

Crude Oil costs turned strongly lower, snapping a five-day winning streak. The move appears to have reflected facilitating worries about the acceleration in Syria after US President Trump flagged an end of the week rocket assault intended to rebuff the administration for utilizing synthetic weapons was a unique case. Trump additionally moved in an opposite direction from sanctions went for punishing Russia for its help of Syrian President Bashar al-Assad.

In the meantime, gold costs stamped time as ebbing geopolitical hazard converted into firming hazard craving, boosting Fed rate climb wagers while at the same time undermining support for the US Dollar. The last impact appeared to reflect ebbing sanctuary request and also the re-development of the view that widening worldwide recuperation will see top national banks limit the US national bank’s lead down the way to boost withdrawal. This put gold’s parts as hostile to fiat and benchmark non-enthusiasm bearing resource in strife, converting into a stop.

CRUDE OIL TECHNICAL ANALYSIS

Crude-Oil-Prices-Snap-5-Day-Win-Streak-Eye-Inventory-Data_body_Picture_1 17-04-2018

Crude Oil costs pulled back from protection bunch in the 66.63-67.49 territory (January 25 high, rising channel top, 38.2% Fibonacci development). From here, a move back underneath the 23.6% level at 63.90 opens the entryway for a trial of channel floor bolster at 62.50. On the other hand, turn over 67.49 sees the following upside hindrance at 70.38, the half Fib. Source

OPEC Report Lift Up Gold and Crude Oil Price in Commodity Market

Commodity Trading News Updates:
Raw petroleum and gold costs ascended in the midst of expanded Syria struggle risk on Wednesday

Consideration now swings to the US reaction and the approaching month to month OPEC oil report

Both gold and raw petroleum outlines give cautioning suggestions that costs may soon head lower

Unrefined petroleum costs climbed in excess of two percent on Wednesday, moving to the most astounding point since December 2014. The risk of a contention between the US and Syria helped push costs higher notwithstanding EIA oil inventories expanding by the most since early March. In the meantime, gold costs additionally aroused. Notwithstanding, a portion of the additions in the counter fiat yellow metal were lost when the US Dollar revived towards the finish of the day.

We likewise had the second day of the International Energy Forum in New Delhi. There, OPEC’s Secretary General Mohammad Barkindo talked and said that the gathering is sure that they “will get inventories to the 5-year normal in 2018.” He included that the cartel sees consistency in March higher than in February.

Looking forward, on Thursday OPEC will issue their month to month oil advertise report. Already, the gathering needed to decrease supply by more than foreseen on account of an excess in the non-OPEC generation. Since Barkindo likewise specified that worldwide inventories are around 42 million bbl over the 5-year normal yesterday, maybe extra alterations could be probable. More slices of the supply may support oil costs.

Moreover, watch out for how the US reacts to the Syria circumstance. President Donald Trump addressed Defense Secretary Jim Mattis and they are as yet measuring choices for military activity. Both unrefined petroleum and gold costs could be left helpless against how the circumstance unfurls. In the event, that notion decays again and the US Dollar falls, gold costs may profit.

GOLD TECHNICAL ANALYSIS

gold technical chart analysis 12-04-2018

Gold costs are attempting to gain ground to the upside, however, the ware has neglected to close over the protection line of a slipping channel. Wednesday’s high additionally verged on testing the January high of 1,366.13. Negative RSI difference likewise implies that costs may soon fall. From here, close term bolster is at 1,340.94 which has gone about as protection in the past too. A push underneath that uncovered 1,323.65 which was a territory gold attempted to fall through in late March/early April.

CRUDE OIL TECHNICAL ANALYSIS

Crude-Oil-Prices-chart 12-04-2018

Not at all like gold, raw petroleum costs shut above key protection. That being the January 25th high of 66.60. Be that as it may, similar to gold, negative RSI dissimilarity is likewise present indicating energy to the upside is ebbing. Also, oil has not cleared the 38.2% Fibonacci augmentation at 67.33. From here the following target would be the half midpoint at 70.23. Then again, close term support could be the January 25th high took after by the 23.6% level at 63.74. Source

Gold and Crude Oil Trend Analysis and Forecast

Prices of Gold came into tension after US dollar rose amidst pickup sentiment. Meanwhile, crude oil prices rose despite greenback’s strength. The main catalyst for oil’s climb was when Saudi Arabia unexpectedly raised the price of its Arab Light crude in Asia. Soon though, Thursday’s performance quickly reversed course.

Just as Friday’s session got started, US President Donald Trump ordered the consideration of $100 billion of additional tariffs on Chinese products. Sentiment immediately soured and oil prices fell while gold rose. Looking ahead, the anti-fiat yellow metal and oil also face March’s US jobs report.

gold forecast 06-04-2018

The country is expected to add fewer workers and the unemployment rate is expected to fall to 4.0%. Meanwhile, average hourly earnings are expected to rise. Data outside the country has been improving relative to economists’ expectations as of late. If an upside surprise boosts the greenback, gold and oil could fall.

Coming to crude oil, the number of active rigs has been steadily increasing from around 400 since mid-2016 to last week’s reported number of 993. Further additions could end up hurting oil prices as more extractions can increase the supply of crude.

crude oil forecast 06-04-2018

 If Technical Analysis is done then, the gold price is rising at a decreasing rate in an attempt to reach the lower line of the descending channel. However, near-term support has formed around 1,323.65 and pushing through that could be a challenge. From here, near-term resistance is around 1,340.94. If gold keeps falling and pushes lower, it will face the 38.2% Fibonacci retracement at 1,316.64.

In case of crude oil, its prices are rising from August 2017. However, in an attempt to test it, a new area of support seems to have formed around 62.85. From here, immediate resistance is the 23.6% Fibonacci extension at 63.74 followed by the January 25th high at 66.60. On the other hand, if prices fall through support the next target will be the series of lows seen in the first half of March around 60.05.

Dollar seems to be weak but despite this; Prices of gold show a downfall!

Gold prices slipped on Tuesday, giving up its earlier progress despite a weaker dollar amid the intensifying trade dispute between China and the U.S.

Gold futures for April delivery on the Comex division of the New York Mercantile Exchange slipped $4.40, or 0.33%, to $1,342.50 a troy ounce by 12:00 AM ET (04:00 GMT). The U.S. dollar index that tracks the greenback against a basket of six major currencies last stood at 89.66, down 0.03%, extending its losses from an overnight high at 89.78.

Dollar-denominated assets such as gold are susceptible to moves in the dollar – a fall in the dollar makes gold low-priced for holders of foreign currency and thus boost the demand for the precious metal. Gold prices pushed higher earlier in the day as risk animosity accelerated following a selloff in U.S. technology shares and amplified concerns of a full-blown trade war after China slapped new tariffs on U.S. goods on Sunday.

Investors seek out gold as a store of value during times of political or economic uncertainty. In other precious metal trade, silver futures fell 0.8% to $16.540 a troy ounce, and platinum futures slipped 0.21% to $936.60 an ounce. Meanwhile, Asian equities also trade lower on Tuesday, with the Nikkei 225 down 0.7% and the Shanghai Composite and Shenzhen Component both saw the major downfall of more than 1%.

Gold and Crude Oil Prices Get Stable Due to McMaster

Commodity Trading News

Crude Oil costs teeter-totter on Trump taxes, McMaster abdication

Gold costs ascend as geopolitical feelings of dread undermine advertise precariousness

US tax exclusions, spending charge improbable to cool hazard avoidance

Crude Oil costs fell after Wednesday’s Fed-connected rally after the Trump organization slapped China with corrective taxes, activating expansive based hazard avoidance (as expected).The S&P 500 stock record – a benchmark for wide based market estimation – endured the biggest drop in about two months.

Gold costs likewise withdrew as the dismal state of mind stirred sanctuary interest for the US Dollar, undermining hostile to fiat choices. The move brought down was moderately agreeable however as the hazard off state of mind drove capital streams toward the security of Treasury securities, weighing on yields and boosting the interest of non-enthusiasm bearing resources.

Items were then shocked higher in early Asia Pacific exchange on news that US National Security Advisor H.R. McMaster has surrendered. Mr. Trump intends to supplant him with the considerably more hawkish John Bolton, a previous minister to the United Nations.

Mr. Bolton has upheld pre-emptive military activity against Iran and North Korea. The danger of finish on the previous most likely stirred apprehensions about unrefined supply disturbance while the extensively more noteworthy shot of a combative US likely cautioned of general market insecurity, discoloring paper resources and lifting gold.

GOLD TECHNICAL ANALYSIS

Gold-and-Crude-Oil-Prices-Buoyed-By-McMaster-Bolton-Switch_body_Picture_23-03-2018
Gold-and-Crude-Oil-Prices-Buoyed-By-McMaster-Bolton-Switch_body_Picture_23-03-2018

Gold costs are endeavoring to break protection set apart by the 23.6% Fibonacci extension at 1333.51. Affirmation on a day by day shutting premise uncovered the 38.2% level at 1352.40the first significant layer of help comes in at 1307.25, the base of a range winning since early February.

Crude Oil TECHNICAL ANALYSIS

Gold-and-Crude-Oil-Prices-Buoyed-By-McMaster-body_Picture_23-03-2018
Gold-and-Crude-Oil-Prices-Buoyed-By-McMaster-body_Picture_23-03-2018

Crude Oil costs are wavering beneath protection in the 66.63-67.49 zone (January 25 high, 38.2% Fibonacci extension). A break to the upside at first uncovered the half level at 70.38. Then again, a turn back underneath the 23.6% Fib at 63.90 makes room for a retest the $60/bbl figure. Source

Crude Oil Technical Analysis and EIA Information

Raw petroleum costs at first fell in with wide based hazard craving patterns, dropping close by the bellwether S&P 500 stock list. Costs recuperated most lost ground into the finish of the day however as supposition balanced out and showcases checked out EIA information demonstrating a sensational form in gas and distillate inventories. They included a joined 10.6 million barrels a week ago, overshadowing conjectures ten times and overpowering a bigger-than-anticipated rough stockpiling addition of 5.02 million barrels.

CRUDE OIL TECHNICAL ANALYSIS

oil price forecast 15-03-2018

Raw petroleum costs are curling up inside a Falling Wedge outline arrangement. The setup ordinarily conveys bullish implication, yet affirmation is required on every day close over the example’s upper limit at 62.11. That would at first uncover the February 26 high at 64.21. On the other hand, a dip under help in the 59.59-60.00 territory (wedge floor, March 8 low) makes ready for another trial of the February 9 base at 58.11. Source

Malaysia Airlines Bhd projects oil prices will increase – Crude Oil Trading Tips

KUALA LUMPUR: Malaysia Airlines Bhd ventures oil costs will increment to about US$70 a barrel toward the finish of this current year and has forceful fuel supporting set up as the cash losing national transporter looks to come back to gainful operations. – Crude Oil Trading Tips

Right now (Crude Oil Trading Tips)

we are supported around 65% of the present year at about a tad bit north of US$60,” CEO Peter Bellew said in a Bloomberg TV meet with Haidi Lun.

“We are forcefully supporting 12 months ahead on a quarter-to-quarter premise and adopting a genuinely judicious strategy to it.” – Crude Oil Trading Tips

Malaysia Airlines is anticipating an arrival to what Bellew calls

“more steady productivity” in 2018 after a normal misfortune this year as it fills a bigger part of seats in the midst of interest from business sectors driving with China.

The ringgit’s devaluation against the US dollar since Donald Trump won the US presidential race in November is a major sympathy toward Malaysia Airlines, the CEO said.

The ringgit (which has debilitated over 5% since the US race)

May reinforce throughout the following six to nine months, supporting the transporter’s profit, Bellew said.

Unrefined petroleum fates were exchanging at US$52.66 a barrel starting at 12:35pm in Singapore yesterday

Chinese travelers have since come back to Malaysia Airlines, making the nation its most grounded market now, Bellew said.

The bearer still needs more wide body planes to convey the convergence of vacationers from China to Malaysia and is anticipating to fly upwards of five million Chinese explorers in three to four years, he said.

“My issue with Chinese is I don’t have enough air ship at this moment to work flights there,” Bellew said.

“We are seeing no issues with our image or notoriety among Chinese nationals.”

There are a few deals in the air ship advertise now and Malaysia Airlines may add six to seven planes in 2018, Bellew said.

It’s in converses with Boeing Co on the 787 flying machine while consulting with Airbus SE on the A330 neo, he said.

Global crude oil prices are expected – crude oil trading

KUALA LUMPUR: Speaking to columnists at a preparation on OCBC Bank’s 2017 Economic Outlook, Wiranto said unrefined petroleum costs had captured its free-fall, and was presently moving towards continuous rebalancing taking after the generation cuts by oil majors. (crude oil trading)

Other ware costs were additionally anticipated that would move higher pair with the oil value recuperation, he said.(crude oil trading)

Unrefined petroleum on the worldwide benchmark Brent was cited at around US$55.80 per barrel, up around 0.2%, yesterday evening.

Before the assention by Opec and non-Opec to cut creation at end-November 2016, oil costs had been drifting at under US$50 per barrel.

As per Wiranto, the bounce back in unrefined petroleum costs was required to bolster the ringgit’s esteem, which he said was right now underestimated on the long haul genuine viable conversion scale premise.

“Since oil value droop of earlier years was one component influencing the ringgit’s swapping scale, it is consistent to anticipate that a similar example will hang on the other side now that oil cost is recouping,” he said.

Wiranto said Malaysia’s financial basics ought to bolster the reinforcing of the ringgit, in spite of the fact that market opinion could bring about changes of the estimation of the cash in the short to medium term.

“On a very basic level, the ringgit ought to be a ton more grounded than where it is presently,” Wiranto stated, including that the strength of the yuan would offer support to local monetary standards, including ringgit.

Wiranto said he would expect provincial national banks, including Bank Negara, to concentrate on modifying their remote trade (forex) hold cradle to counter market and money volatilities.

“Toward the day’s end, forex stores are shots to be utilized amid extreme circumstances, and so as to guarantee that you have a decent position in an unstable market, you would need to have however many projectiles as could be allowed,” he clarified.

As far as arrangement activity, Wiranto said he didn’t anticipate that Bank Negara will cut loan fees this year.

“Bank Negara is probably going to keep up the overnight approach rate unaltered at 3% this year as it has taken a more positive tone as far as the nation’s development and expansion standpoint for 2017… in the event that development is farly vigorous, why squander a shot,” he said.(crude oil trading)

OCBC Bank had anticipated Malaysia’s financial development to stay stable at 4.2% this year, bolstered by fare recuperation and vigorous residential utilization.

Wiranto said the nation’s fare development would likely bounce back to around 3% to 3% in 2017, contrasted and the assessed 0.5% in 2016, by virtue of higher ware costs and a get in electrical and electronic (E&E) deals.(crude oil trading)

Oil prices edged up on Friday – Commodity trading tips

Oil costs edged up on Friday on news that U.S. President Donald Trump could be ready to force new endorses on various Iranian substances, terminating geopolitical strains between the two countries. (Commodity trading tips)

Reuters revealed that the U.S. organization is set up to take off new measures against more than two dozen Iranian targets taking after Tehran’s ballistic rocket test, as per sources, yet the bundle was planned in a way that would not damage the 2015 Iran atomic arrangement.

Brent rough fates had risen 28 pennies (Commodity trading tips)

or 0.5 percent, to $56.84 a barrel by 0123 GMT (08:23 p.m. ET), in the wake of settling down 24 pennies at $56.56 in the past session.

Front month U.S. rough fates, otherwise called West Texas Intermediate, climbed 29 pennies, or 0.5 percent, to $53.83 a barrel, in the wake of completion Tuesday down 34 pennies. For the week, the agreement is fulfilled somewhat more than 1 percent.

Oil costs have balanced out around 15 percent over the level before a few makers concurred in December to control generation, National Australia Bank said in a note on Friday.

“The upward weight on oil costs has been halfway balanced by rising U.S. generation since October a year ago, which is relied upon to proceed for whatever remains of 2017,” the bank said.

“We now anticipate that oil costs will normal around the mid to high $50s in Q1 and Q2, before achieving the low $60s by end-2017 and balancing out at around those levels in 2018.”

Worldwide oil yield was cut by 1.4 million barrels for each day (bpd) a month ago, Russian vitality serve Alexander Novak stated, as a major aspect of the arrangement a year ago amongst OPEC and different makers drove by Russia.

Novak said Russian organizations may cut oil generation speedier than had been at first concurred with OPEC and included that he anticipated that the market would rebalance by the center of this current year.



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Petronas linked stocks rallied

KUALA LUMPUR : Petronas connected stocks energized, but in thin exchange early Tuesday on the solid recuperation in unrefined petroleum costs as littler players additionally hopped on the fleeting trend while supporting the FBM KLCI was Tenaga Nasional.

At 9.09am, the KLCI was up 7.92 focuses or 0.48% to 1,649.34. Turnover was 110.26 million shares esteemed at RM58.37mil. There were 176 gainers, 54 washouts and 158 counters unaltered.

Notwithstanding, Reuters reported Asian shares were on tenterhooks on Tuesday as financial specialists anticipated the Federal Reserve’s meeting that starts later in session for pieces of information on the viewpoint for U.S. money related approach.

MSCI’s broadest file of Asia-Pacific shares outside Japan edged up 0.1% in early exchange, while Japan’s Nikkei stock file slid 0.5% as the dollar fell off highs against the yen.

It additionally reported unrefined petroleum costs pulled back after their surge to 18-month on the back of an end of the week bargain by OPEC and non-OPEC makers to abridge yield. US unrefined fates slipped 0.4% to US$52.61 a barrel.

Petronas Dagangan rose 34 sen to RM23.74, Petronas Gas added 28 sen to RM21.92 while Shell rose eight sen to RM2.38. SapuraKencana and Uzma added six sen each to RM1.64 and RM1.47.

Hibiscus was the most dynamic, up two sen to 33 sen. Bumi Armada rose 2.5 sen to 61 sen, KNM edged up one sen to 34.5 sen and Sumatec squeezed out 0.5 sen to 5.5 sen.

Control mammoth Tenaga added 18 sen to RM14.16. CIMB Equities Research said Tenaga intends to convey profit before intrigue and assessment of RM20bil by 2025, inferring an intensified normal development rate of 10% in 2015-2025.

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