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US oil to drop to $81.70 SINGAPORE: US oil may retrace to $81.70 per barrel, as indicated by its wave pattern and a Fibonacci retracement analysis.A five-wave cycle from the Sept. 30 high of $94.90 has not completed. The gain from the Oct. 16 low of $79.78 was driven by the fourth wave, which failed to extend above a resistance at $84.81, the 38.2 percent Fibonacci retracement on the fall from the Oct. 1 high of $92.96 to $79.78.This wave will be totally reversed by a downward wave (5), which may have started at the Oct. 16 high of $84.83. The consolidation between $82.89, the 23.6 percent level, and $84.81 has been shaped into a small triangle, which may turn out to be a bearish pattern.A break above $84.81 will cause a further gain to $86.37, the 50 percent retracement.The views expressed are his own.No information in this analysis should be considered as being business, financial ...

Brent holds on to gains above $86, helped by US consumer sentiment SINGAPORE: Brent crude futures edged higher on Monday, holding on to gains scored in the previous session that took it above $86 a barrel after robust US data buoyed global financial markets, with a cut in Saudi-Kuwait oil output providing further support. Abundant global oil supplies coupled with a gloomy economic outlook from Europe to China had pushed Brent to its lowest since 2010 last week, consolidating a loss of more than 25 percent since ...
Oil prices extend gains in Asia SINGAPORE: Oil prices rose in Asia Monday, lifted by a surge in equities following last week's sharp gains on Wall Street, but analysts said prices remain weighed by weak demand in an oversupplied market.US benchmark West Texas Intermediate for delivery in November climbed 47 cents to $83.22 a barrel in late-morning trade and Brent crude for December added 17 cents to $86.33.Both contracts ended marginally higher last week thanks to a minor dip-buying rally after ...
Oil rebound extends in Asia SINGAPORE: Oil prices extended a minor rally on bargain-buying Friday, a day after the US benchmark fell below $80 for the first time in more than two years.However, the overall mood remained clouded by a supply glut in and concerns over demand caused by a slowdown in major European economies and China.West Texas Intermediate (WTI) for delivery in November was up 60 cents at $83.30 a barrel in late-morning trade and Brent rose 74 cents ...
US oil to retrace to $81.70 SINGAPORE: US oil is expected to retrace further to $81.70 per barrel and then rise towards $82.89 as indicated by its wave pattern and a Fibonacci retracement analysis.The sharp gain from the Oct. 16 low of $79.78 was driven by a wave (4), the fourth wave of a five-wave cycle that developed from the Sept. 30 high of $94.90.This wave will consist of three waves, so far, only the first wave labelled a has completed ...
Brent oil may retrace to $85 SINGAPORE: Brent oil faces resistance at $86.67 per barrel and may retrace to the Oct. 16 high of $85 to fill a gap on the daily chart.The resistance has been identified as the 76.4 percent Fibonacci projection level of a downward wave C that started at the June 19 high of $115.71 and it may stop oil from rebounding further.Even though the gap on the daily chart has been caused by a switch from the ...
Brent crude rallies above $86 but still heading for 4th weekly loss SINGAPORE: Oil got some respite on Friday from a four-month rout, with Brent climbing by almost a dollar to above $86 a barrel after positive US data buoyed global financial markets, although market analysts doubted the rally would take it much higher.The global oil benchmark is still headed for its fourth weekly loss in a row, having hit a four-year low on Thursday as excess supply and weak demand from Europe to China pummelled prices.Front-month ...

 



 
Index Closing Chg%
Arrow DJIA 17,652.60 0.79
Arrow Nasdaq 4,757.88 0.16
Arrow S&P 2,051.82 0.55
Arrow FTSE 6,832.83 0.53
Arrow DAX 10,649.58 2.05
Arrow CAC-40 4,640.69 1.93
Arrow Nikkei 17,511.75 1.05
Arrow H.Seng 24,850.45 1.34
Arrow Sensex 29,278.84 0.94






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln