SGX Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices fell further in early Asia on Monday with investors eyeing China manufacturing data. China is to release official data on manufacturing activity in November that came in at 50.8 in October as well as the HSBC manufacturing index expected at 50.0. On the Comex division of the New York Mercantile Exchange , gold future for February delivery traded at $1,153.50 a troy ounce, down 1.06%, after hitting the weakest level Nov. 14, before settling at $1,175.50 by close of trade, down $22.00, or 1.84% on Friday.

TRADING STRATEGY :
BUY GOLD ABOVE 1159 TARGET 1164 1170 SL 1153
SELL GOLD BELOW 1142.5 TARGET 1137.5 1132.5 SL 1148

SGX IForex Recommendations

TRADING TIPS :

EUR/USD hit 1.2490 during European afternoon trade, the session high; the pair subsequently consolidated at 1.2482, adding 0.13% The pair was likely to find support at 1.2400, the low of November 25 and resistance at 1.2571, the high of November 21. The euro edged higher against the U.S. dollar on Friday, but gains were expected to remain limited as euro zone inflation data added to expectations for the European Central Bank to announce additional stimulus measures at its monthly policy meeting next week.Official data earlier showed that euro zone consumer price inflation ticked down to an annualized rate of 0.3% this month from 0.4% in October, in line with expectations.

INTRADAY OUTLOOK

Support: 1.2430

Resistance: 1.2480

RECOMMENDATION:

1. Buy EUR/USD Above 1.2482-TG:1.2502/1.2532 SL 1.2452

2. Sell EUR/USD Below 1.2428-TG:1.2408/1.2378 SL 1.2458

INTRADAY OUTLOOK

Immediate Support: 118.52

Immediate Resistance: 119.10

RECOMMENDATION:

1. Buy USD/JPY Above 119.12-TG:119.32/119.62 SL 118.82

2. Sell USD/JPY Below 118.50-TG:118.30/118.00 SL 118.80

Oil Market Update

U.S. crude-oil futures spiraled further down in electronic trade late Sunday, with the most-active January 2015 contract CLF5, -2.45% breaking below the $65-a-barrel handle to hit $64.90 as East Asian markets opened.

The drop represented a 2% fall from the New York Mercantile Exchange settlement Friday, when the contract had plunged 10% after the Organization of the Petroleum Exporting Countries failed to agree to an output cut.