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US oil may start deep correction soon SINGAPORE: US oil looks exhausted while approaching a resistance zone of $104.50-$104.99 per barrel, and may start a deep correction soon.The zone has been formed by the April 16 high of $104.99 and a resistance established by the upper trendline of a wedge. The bearish divergence on the hourly RSI strongly suggests a slim chance of a break above the zone.Most likely, oil will peak near this resistance zone and start a downtrend towards $100, a support provided by the lower trendline of the wedge. A drop to $103.50 could signal the reversal of the uptrend.A valid break above the zone will be confirmed when oil stands firm above $105.The views expressed are his own.No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products ...

Brent oil may retrace to $109.41 SINGAPORE: Brent oil faces resistance at $110.99 per barrel and may retrace to support at $109.41.Resistance has been formed around the 61.8 percent Fibonacci projection level of an upward wave C that rose from the May 6 low of $106.97. It is strengthened by another one at $110.40, exerted by a trendline descending from the Aug. 28, 2013 high.These two resistances have made an extension of the wave C less possible. Chances are, oil may ...
Crude prices up after escalation in Ukraine crisis SINGAPORE: Oil prices rose in Asian trade Tuesday on concerns over a dramatic escalation in the Ukraine crisis that could potentially cause a disruption in gas supply and send energy prices soaring, analysts said. US benchmark, West Texas Intermediate (WTI) for delivery in July, rose two cents to $104.37 in late-morning trade while Brent North Sea crude for July delivery rose 23 cents to $110.55 per barrel.Financial markets in the United States and Britain were ...
Oil prices down in Asian trade SINGAPORE: Oil prices edged lower in subdued Asian trade Monday but retained support from concerns about a crisis in Libya as well as an upbeat demand outlook in the United States, analysts said.The US benchmark, West Texas Intermediate for delivery in July, fell 32 cents to $104.03 per barrel in afternoon trade. Brent North Sea crude for July delivery dropped 64 cents to $109.90.Singapore's United Overseas Bank said "trading action may be limited" with financial ...
Brent slips below $110 after Ukraine election SINGAPORE: Brent crude fell below $110 a barrel on Monday, dipping further from last week's two-and-a-half month high as worries over Ukraine eased slightly after its presidential election. Resistance levels for Brent and US crude, or West Texas Intermediate (WTI), on technical charts are also keeping a lid on gains. Market activity is expected to be limited as the US and UK markets are closed for holidays. July Brent crude was at $109.94 a barrel, ...
US oil may peak in $104.50-$104.99 range SINGAPORE: US oil faces a resistance zone of $104.50-$104.99 per barrel, and may peak in it.The zone has been formed by the April 16 high of $104.99 high and a resistance established by the upper trendline of a wedge. Even though this pattern has a bullish indication due to its appearance after an uptrend, the chance of a break above $104.50 seems to be remote, as the bearish divergence on the hourly RSI strongly suggests ...
Brent slips near $110 after Ukraine election SINGAPORE: Brent crude edged down towards $110 a barrel on Monday, dipping further from last week's two-and-a-half month high as worries over Ukraine eased slightly after its presidential election.Resistance levels for Brent and West Texas Intermediate (WTI) on technical charts are also preventing prices from rising further.Market activity is expected to be limited as the US and UK markets are closed for holidays. July Brent crude was at $110.06 a barrel, down 48 cents, by ...

 



 
Index Closing Chg%
Arrow DJIA 17,265.99 0.64
Arrow Nasdaq 4,593.43 0.68
Arrow S&P 2,011.36 0.49
Arrow FTSE 6,819.29 0.57
Arrow DAX 9,798.13 1.41
Arrow CAC-40 4,464.70 0.75
Arrow Nikkei 16,067.57 1.13
Arrow H.Seng 24,168.72 0.85
Arrow Sensex 27,112.21 1.81





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln