Archive for February, 2015

COMEX Technical Analysis 26th Feb

Posted: February 26, 2015 in Commodity Tips

Gold
Gold markets initially rallied during the course of the session on yesterday, Goldas the $1200 level offered a bit of support. However, the market looks as if it can’t build up quite enough momentum to hang onto any gains. Because of this, we are bullishbut feel that momentum is needed to build upfirst.With that we are on the sidelines and simply waiting for some type of impulsive candle higher in order to start buying. We feel that supportive candles below could be used but probably we are going to be sideways for the next session or two.
SILVER
Silver markets rose during the session on yesterday, breaking above the $16.50 level. However, silverwe could not hang onto most of the gains so it was a little bit of a lackluster showing. We think that there is a significant amount of support down at the $16 level, and most certainly at the $15.50 level. We have no interest in selling the market, because we believe there are too many reasons that the market could bounce at this point. With that we are on the sidelines waiting for supportive candle or an impulsive move above the range of the session on yesterday.
CRUDE
The light sweet crude market bounced a bit during the session on yesterday, as the $48 level below offer continues support. Because of this, we feel that this market will go higher in the short-term, as we continue the larger consolidation area going forward. We believe that the market will probably aim for the $54 level, and perhaps even as high as $55 given enough time. It is a little bit riskier than selling up near the top of the rectangle. However, we recognize that a short-term buying opportunity is in fact presenting itself. We feel much more comfortable in selling, so we would place a larger position to sell the rally once it happens. We do not anticipate this market breaking out above $55, as it is a major resistance.

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FOREX Technical Analysis 26 Feb

Posted: February 26, 2015 in Forex

EUR/USD
The EURUSD tried to rally during the course of the session on yesterday, 1but pulled back to form a shooting star. This shows that the market may continue to go sideways. The 1.15 level above is massively resistive, and it extends all the way to the 1.1650 level so we are not looking for buying this pair. However, we believe that we are more than likely to downside given enough time. However, sideways action makes sense after the strong sell off.
GBP/USD
The GBPUSD broke out during the session on yesterday, breaking above the 1.55 level. 2With that, the market looks like it’s ready to go higher and head towards the 1.58 level. However, there is a significant amount of noise between here and there, so it’s going to be very difficult to buy this pair. We believe that it is easier to buying the British pound against other currencies and as a result we think that we should not trade in this market as of now as it is very noisy.
AUD/USD
The AUDUSD did nothing during the session on yesterday, 3as we continued to hang just below the 0.79 level. With that, the market has a significant amount of resistance all the way to the 0.80 level, which is a massive resistance barrier. We have no interest in buying this pair, and will look for resistive candles in order to start selling. We may look for buying opportunities above the 0.83 level, as there is so much of noise in the way.
USD/JPY
The USDJPY tried to break out to the upside during the session on yesterday, 4but fell far enough to form a little bit of a shooting star. The market looks like it’s ready to grind sideways and therefore we are on the sidelines. We believe that 120 level is a significant barrier. Pulling back should offer value, but at this point of time we do not want to get involved as the market simply looks like it’s ready to do nothing in the short-term.
NZD/USD
The NZDUSD went back and forth during the course of the session on yesterday, essentially doing nothing. 5With that, it looks as if the market is ready to continue to go sideways as we see a significant amount of resistance at the 0.7650 level, with a support at the 0.74 level. If we break the bottom of the candle from the Tuesday session, we believe that the market would then start falling. However, in the meantime we think that it’s probably best to avoid this market.

Market Review for STI: Share prices opened higher with the Straits Times Index up 6.93 points to 3,428.23. Shares were little changed as investors opted to wait for Federal Reserve head Janet Yellen’s testimony before Congress tonight. While markets expect the Fed to raise interest rates this year, concerns are mounting that higher borrowing costs might put the US economy at risk at a time when central banks worldwide are easing policy to fight deflation and sluggish growth.STI
STI Day Performance
Open: 3427.56
High: 3437.61
Low: 3415.91
Close: 3437.61
Change(Points): +16.31
% Change: +0.48%
Volume: 1041.3M
Rise: 211
Fall: 176
Unch: 398
Market forecast for STI: We may expect bullish rally of STI in next trading session.
STRAITS TIME LEVELS
Support 1: 3400
Support 2: 3380
Support 3: 3363
Resistance 1: 3450
Resistance 2: 3480
Resistance 3: 3500
Technical Indicators: RSI is at 55and CCI is at 87.
Important Factor for today:-

  • Singapore’s budget this year focuses more on long-term measures to boost “the supply-side capacity of the economy” and lacks short-term measures to drive consumption, according to Credit Suisse.
  • Lower administrative expenses and increased contributions from associates and joint ventures lifted SIIC Environment Holdings’ 4Q2014 earnings to RMB65.9 million ($14.5 million) from RMB31.3 million a year earlier.
  • A budget focused on building Singapore’s future, was how Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam summed up his close to two-and-a-half-hour.
  • Singapore shares remained subdued ahead of Federal Reserve Chair Janet Yellen’s congressional testimony tonight.
  • Singapore’s budget is about strengthening the social safety net to help the silver generation and needy. It continues to attempt to create equal opportunities for Singaporeans.
  • Proposed tax could encourage the further development of the reits market in Singapore, the incremental demand for office spaces by any new reit listings will be marginal in light of the large office supply.
  • Oil prices dipped on worries about oversupply in North America, with Brent futures testing support around US$60 a barrel and US contracts hovering around US$50.50.

STI Technical Analysis Outlook 23 Feb

Posted: February 23, 2015 in Stock Tips

Market Review for STI: Share prices opened higher with the Straits Times Index up 16.94 points to 3,452.60.Shares held on to modest gains as investors awaited more developments in Europe, where Greece has until today to provide its creditors with a list of reform measures to secure financing. Trading activity was also subdued ahead of this afternoon’s Singapore Budget announcement.STI
STI Day Performance
Open: 3456.21
High: 3458.14
Low: 3421.30
Close: 3421.30
Change(Points): -14.36
% Change: -0.42%
Volume: 1053.2M
Rise: 201
Fall: 196
Unch: 390
Market forecast for STI: We may expect STI will move in the range of 3390 to 3350.
STRAITS TIME  LEVELS
Support 1: 3385
Support 2: 3365
Support 3: 3340
Resistance 1: 3450
Resistance 2: 3480
Resistance 3: 3505
Technical Indicators: RSI is at 55and CCI is at 87.
Top  Gainers:- OLAM INTL.SG, NOBLE.SG, DBS.SG, JARDINE C&C.SG, SGX.SG
Top  Losers:- SINGTEL.SG, HONGKONGLAND USD.SG, SIA.SG, JMH USD.SG, THAIBEV.SG
Important Factor for today:

  • The consumer price index in January was expected to fall 0.3 per cent from a year ago, according to the median forecast in a Reuter’s poll of economists. Core CPI was seen likely to rise 1.3 per cent year-on-year.
  • Airlines (SIA) dropped a position this year and ranked 19th in Fortune magazine’s annual list of the 50 most admired companies in the world.
  • SINGAPORE inflation eased to -0.4 per cent in January from -0.1 per cent in December, mainly due to a sharp price declines of oil-related items as well as lower food and services inflation.
  • Malaysian state fund 1MDB said on Monday that the refinancing of its debt will involve the finance ministry “as relevant and as required” after media reported that the government may inject up to RM3 billion (S$1.12 billion) into the fund.
  • Oil rebounded in Asia on Monday as speculators hunted for bargains following a sharp decline last week, but analysts said prices remain weighed by an oversupply.
  • Loan growth for the three Singapore banks is expected to be tepid this year, after having increased 5.8% in 2014 following four years of double-digit expansion.

Forex Technical Analysis Report 19 Feb

Posted: February 19, 2015 in Forex

EUR/USD
The EUR/USD fell initially during the session on yesterday, but found enough forexsupport to turn things back around and formed a little bit of a hammer. With that, the market should continue to be very choppy, as we continue to consolidate between the 1.13 level on the bottom, and the 1.15 level on the top. We have no interest in trading this pair as of now until we see any opportunity to trade.
GBP/USD
The GBP/USD broke higher during the course of the session on yesterday, clearing the top of the hammer from the Tuesday session. As the 1.55 level comes within reach, we will see a significant amount of resistance as it was previously support during the month of December before we fell down to the 1.50 level. Even if we break above there, the resistance extends to the 1.58 level. Because of this, the market should offer some type of selling opportunity between here and there.
The 1.50 level below is massively supportive, and we believe that it will break down below there, as the 1.48 level is the bottom of that particular support area. Because of this, the market looks ready to bounce around between the 1.55 and the 1.50 level.
AUD/USD
The AUD/USD fell during the session on yesterday, but found a little bit of support near the 0.7750 level to form a hammer. The hammer suggests that the buyers are going to come back, but we believe that there is absolutely no way that we can go long of this market. The 0.80 level above should be massively resistive, and as a result we are looking for some type of resistant candle in order to start selling again. We believe that the market will head back down towards the 0.76 level given enough time.
USD/JPY
The USD/JPY tried to rally during the course of the session on yesterday, but fell at the 119.50 level. With that, we feel that the market continues to grind away in this general vicinity, so it’s only a matter of time before we go long. We look for supportive candles on short-term charts in order to go long, and aim for the 120 level. As of now, we have no interest in selling because we see there is so much in the way of support below. With that, this is essentially a “buy only” market.
NZD/USD
The NZD/USD initially fell during the course of the session on yesterday, but found enough support at the 0.75 level to turn things back around and formed a hammer. The hammer is a very bullish sign but we recognize that there is massive resistance above, especially at the 0.7650 region. With that, we are simply waiting for a selling opportunity above in order to get short of the Kiwi dollar, and have no interest in buying this market as the trend is most certainly still to the downside.

Market Review for STI: Share prices opened higher with the Straits Times Index up 19.57 points to 3,435.48.Asian stocks rose after US shares climbed to a record amid speculation Greece will reach a resolution with its creditors.chinese new year
STI Day Performance
Open: 3428.71
High: 3443.50
Low: 3425.89
Close: 3435.66
Change(Points): +19.75
% Change: +0.58%
Volume: 633.6M
Rise: 210
Fall: 120
Unch: 457
Market forecast for STI: We may expect bullish trend in next trading session.
STRAITS TIME LEVELSSTI Chart
Support 1: 3385
Support 2: 3365
Support 3: 3345
Resistance 1: 3450
Resistance 2: 3480
Resistance 3: 3505
Technical Indicators: RSI is at 58and CCI is at 122.
Top  Losers: GOLDEN AGRI-RES, COMFORTDELGRO, OLAM INTL, WILMAR INTL, GLOBAL LOGISTIC
Top  Gainers: CAPITAMALL TRUST, GENTING SING, NOBLE, JARDINE C&C, ASCENDAS REIT
Important Factor for today:-

  • Maybank Kim Eng has cut its 2015 GDP growth forecast for Singapore to 2.5% from 3%, saying the city-state is caught in a “tug of war between tailwinds and headwinds
  • Malaysia’s consumer price index in January rose 1 per cent from a year earlier, its smallest increase since November 2009, reflecting the drop in global oil prices.
  • Oil fell for the first time in four days before US government data forecast to show crude inventories increased further last week from a record level.
  • Shares in Neptune Orient Lines (NOL) climbed to a high of S$1.065 in today’s early trading on the news that it plans to divest its logistics business and it has asked for a trading halt of its shares on the SGX on Tuesday afternoon.
  • Sembcorp Industries’ fourth quarter net profit grew 7.5 per cent to S$240.62 million, as the group recorded higher contribution from its utilities business in China and the UK.
  • Shares in Noble Group gained 4.5 cents or 4.29 per cent to trade at S$1.095 on today morning after the commodity trading firm defended itself against allegations that it used aggressive accounting to mislead investors.

Market Review for STI: Share prices opened lower with the Straits Times Index down 8.32 points to 3,418.84.Singapore shares were still mostly lower as investors stayed on the sidelines after an early selloff. With Greece and its creditors still nowhere near a deal to address its funding needs, and amid a shortened trading week for the local market, investors are likely to lie low for the rest of today’s session.STI Chart
STI Day Performance
Open: 3418.40
High: 3420.16
Low: 3409.03
Close: 3413.01
Change(Points): -14.15
% Change: 0.41%
Volume: 874.8M
Rise: 153
Fall: 212
Unch; 422
Market forecast for STI: Less volume in market because of Chinese New Year we may expect bearish trend in next trading session.
STRAITS TIME LEVELS
Support 1: 3380
Support 2: 3360
Support 3: 3340
Resistance 1: 3465
Resistance 2: 3485
Resistance 3: 3500
Technical Indicators: RSI is at 54 and CCI is at 13
Important Factor for today:-

  • SINGAPORE’S overall labour productivity contracted by 1.5 per cent in the last quarter of 2014 – the third consecutive quarter of decline, and a worsening from Q3’s 0.9 per cent contraction.
  • NON-OIL domestic exports (NODX) grew 4.3 per cent year-on-year in January, the third straight monthly increase. The NODX rose 0.8 per cent in November and 2.3 per cent in December
  • GFI Group defeated a Singapore lawsuit by a former broker who sued over a six-month non-compete clause that prevented her from moving immediately to a rival in a similar role.
  • THE Singapore economy grew a better-than-expected 2.1 per cent year-on-year in the fourth quarter of 2014, the Ministry of Trade and Industry (MTI) said on Tuesday morning, as the manufacturing sector contracted less than initially anticipated.
  • Higher revenue and fair-value gains on investment properties lifted CapitaLand’s 4Q2014 earnings to $409.4 million from $142.6 million a year earlier.
  • Logistics, commodity and engineering group CWT posted a 5 per cent gain in 2014 net profit as a margin squeeze in commodity marketing offset a jump in revenue.