Crude Oil:
Crude oil broke down from previous rising channel while sliding in 8 consecutive days. US crude oil inventories broke new record high but under market forecast. Active oil rig counts have been falling over few weeks as well. However the down sliding persists. Immediate support at USD36. Next would be USD34. Market looks forward much concrete resolution from OPEC meeting on 17 April.
USA:
DOW Jones finally bid farewell with annoying oil. Following comment from Yellen that less rate hike is expected in 2016 and stronger gain in non farm payroll last week, it has broken 2016 high. Historical high is 18312.
Singapore:
Following Moody downgrading local bank's outook and sliding oil price, STI has been weakening in past week. Both EMA10 and EMA20 are converging. Following weeks will see 1Q2016 result announcement from local listed entities (First is SPH REIT). Earning from last quarter will be in focus6
Market Calendar on coming week:
(SG: Singapore; CH: China; US: USA)
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