Originally Posted by
jitkiat
Oil has broken 200d MA (in TA, a classic divider of bear/bull) at 63.X, now at 65USD. Expect oil to be above 65 for the rest of the year.
Gold rallied along oil, at 960USD.
IMHO, such a strong oil/gold rally cannot be random market movement. Guess it is reflecting rising expectation of inflation in the US. If this trend continues, inflation in Singapore could be higher than expected for 2009.
Dry Baltic Index up for another 9% in last 2 days, it peaked at 10,000 2y ago, now at 3,2XX. Let's see how far can it go.
After a huge rally in Hong Kong market, Dow is not moving. The only explanation is pure inflow of funds into Hong Kong/China. Expect STI to follow HK futures in the short term, consolidating above 2,283. I am still bullish on HK/China/SG stocks as long as S&P500 holds the 875 support.