Friday, March 25, 2016

Mar[8] - Market Update

Crude Oil:
Although US crude oil inventory unexpectedly up 9mil barrels week on week, oil price refused to retreat. It has been moving well within rising channel as above. The Baker Hughes rig count released on last Thursday showed a drop of 15 oil rigs active in the US for the week ending March 25. 

Singapore:
STI couldn't break up from 2907 which was also the resistance on last Dec. Market sentiment calmed down after strong rally on week before, especially with the slump on oil price. Federal banker's hint about potential April hike could play another factor.

Market Calendar on coming week:
(SG: Singapore; CH: China; US: USA)

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