Gold and Oil Markets Report – 12 February 2018 | DZHI - DZH International 
logo

Gold and Oil Markets Report – 12 February 2018

  • DAR Wong
  • 12 February 2018

Gold prices have shown correction on week-chart and probably will trade in sideways to lower trend in coming weeks. Technically, we expect the market to be supported at USD1310 /oz as mentioned in previous report. Temporary recovery might reach USD1335 /oz before the next bear trend. Range is expected to be rather tight this week as traders adjust their positions in the range from USD1310 – USD1335 /oz region.

WTI Crude prices come down to USD59 /barrel as predicted last week. Dollar recovery has weighed on Crude prices but we expect the bargain-hunting will emerge at USD58 – USD59 /barrel region. Some short-covering may occur this week and market prices will probably trade from USD58 to USD62 /barrel. However, beware of plunge beneath USD58 /barrel that could land at USD55 /barrel if demand loosens.

Silver prices have been supported at USD16.2 /oz last week despite selling pressure in market. This week, we forecast the trend will move into recovery as range is expected from USD16.20 – USD16.80 /oz. In case of driving below the USD16.20 /oz support, the trend may visit USD15.80 /oz before encountering new bargain-hunting in market.

CrudePalm Oil (FCPO) Futures on Bursa Derivatives closed with a recovery sign on week-chart. Edible oil traded higher last week and supported FCPO demand. April contract closed at RM2515 /MT on Friday. This week, we foresee the trend may consolidate from RM2470 to RM2520 /MT before gathering new strength to surge. It’s a good opportunity to pick bottom but piercing above RM2520 /MT will indicate a new uptrend.

 

 

Disclaimer: This article is written for general information only. No liability by the writers, publisher or any third party involved in the distribution of this work.  

DAR Wong and Chong HC are the market strategists in APSRI on CPO markets. DAR has 27 years of trading and hedging experiences while HC trades for 9 years and now coaches institutional customers. They can be reached at www.pwforex.com


About the Author
DAR Wong (Singapore)
An international speaker with 27 years of trading experience in the global financial markets, DAR is a Market Master and author of “Living Daylight in Stock Market: Monetizing Your Profits in 8 Days”.

DAR Wong is an active market trader, registered fund manager, educator and author.He began his career in 1989 as an institutional Futures trader with Bank of America. DAR Wong specializes in trading global derivatives and financial markets. He has 26 years of experience accumulated through tenure with Bankers Trust, Barclays Bank, Citigroup (Smith Barney Shearson Inc) and as an independent trader.

DAR is the author of “8 Ways to Invest in China’s Emerging Market” and contributes frequently to regional media, including financial TV/Radio programmes, newspapers and magazines for professional traders and active investors.

He is a popular and sought after international speaker who has presented to financial professionals and investors throughout the region including Singapore, Malaysia, Indonesia, Thailand, Hong Kong, China, Cambodia, Myanmar, Philippines, Sri Lanka, India, South Korea, Laos, Vietnam, United Kingdom and Middle East (UAE).

DAR is registered with NASD (now known as FINRA) series 3 and 5 as approved by National Futures Association (NFA) of USA and holds a current portfolio as Fund Strategist and Advisor with Dektos Investment registered with Monetary Authority of Singapore.

DAR is profiled as “One of the most successful traders – Market Masters” in Brent Penfold’s bestselling book “The Universal Principles of Successful Trading “. In January 2015, DAR was honored with Outstanding Award for International Financial Market Analysis granted by ASEAN Commerce (Thailand).

DAR is the author of "8 Waysto Invest in China's Emerging Market" and contributes frequently to regional media, including financial TV/Radio programmes, newspapers and magazines for professional tradersand active investors.1

He is a popular and sought after international speaker who has presented to financialprofessionals and inverstors throughout the region including Singapore, Malaysia, Indonesia, Thailand, Hong Kong, China,Cambodia, Myanmar, Philippines, Sri Lanka, India, South Korea, Laos, Vietnam, United Kingdom and Middle East(UAE).2


Year
2003 - Set up ASPRI to provide hedging advisory for corporate clients and training for financial professionals
2009 - Released first book “8 Ways to Invest in China’s Emerging Market”
2010 - Profiled as “one of the most successful traders – Market Masters” in Brent Penfold’s bestselling book “The Universal Principles of Successful Trading” along with Larry Williams, Andrea Unger, Michael Cook, and Daryl Guppy etc
2011 - Received “Spirit of Enterprise”awarded by Singapore Management University in Singapore
2012 - Honored with Individual Diamond Career (Thailand) awardedby Royal Privy Council of Kingdom of Thailand
2013 - Appointed Vice Chairman of ASEAN-China Commerce Association and led a delegationtothe annual China-Asean Expo in Guangxi Province, China
2014 - Fund Manager cum Director in Dektos Investment Corporation registered with Monetary Authority of Singapore
2015 - Released new book “Living Daylight in Stock Market - Monetizing Your Profits in 8 Days” in January
2015 - Honored with Outstanding Award in International Financial Market Analysis awarded by ASEAN Commerce (Thailand)
2016 - Honored with Medal of Integrity by Royal Councilin Palace of Palembng, Indonesia

References

1.TV programs on ChannelNewsAsia (Singapore);Radio on 95.8 Capital (Singapore); Newspapers such as The Borneo Post (Malaysia), 资汇报 (Malaysia); Regional financial magazines such as The Analyst (India), 东盟商界(ASEAN, China), 资本杂志 (Malaysia).

2.Spoke at events for CME Group, Euronext LIFFE, Tokyo Commodity Exchange, Singapore Exchange, Korea Exchange, Bursa Malaysia, Thailand Futures Exchange, Jakarta Futures Exchange, Indonesia Commodity and Derivatives Exchange, Tokyo Commodity Exchange, Interactive Brokers, Xinhu Futures, Hangzhou Money Fair, China (Shenzhen) International Finance Expo, China (Guangzhou) International Finance Expo, Euromoney, CIMB, Maybank, RHB, UOB Bank, Asia Trader & Investor Convention, Global Rubber Conference, International Rubber Conference, Malaysia Rubber Board, International Rubber Research and Development Board,Malaysia Ministry of Agriculture, Rubber Industry Smallholders Development Authority, Vietnam Rubber Association, Cambodian Rubber Association, Bureau of Agriculture Research Philippines, Myanmar Rubber Planters & Producers Association etc.


Articles:

Materials: