Crude Oil:
Another bullish week for crude oil. It has broken resistance at 38. Market tended to believe oil production has been slowing down in US. Further push is pending on concrete action about production freeze among OPEC and Russia.
US:
Led by optimistic sentiment in oil price, DOW broke the resistance ~1713. It is looking bullish now.
Singapore:
Despite oil price rally and announcement from Europe Central Bank (ECB) to expand monetary stimulus, STI was actually moving sideway last week. Market could be focusing on FOMC in coming week.
Market Calendar on coming week:
(SG: Singapore; CH: China; US: USA)
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