Singapore Stock Market News

Alpha Edge - Commodities turns bullish

StockFanatic
Publish date: Wed, 05 Mar 2014, 03:33 PM
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S&P 500's Weekly Chart
The US S&P500 uptrend remains, but we are seeing signs of a tiring uptrend. Key support is at 1,800pts. MSCI Asia ex-Japan (MAxJ) is finally above its 200-day SMA and it is important that prices hold above this SMA over the next few weeks.

After two years of consolidation, the commodity market trend is looking positive. Monthly MACD has just turned positive. Leading the way is crude oil. A break above the recent high (US$112.24) should be bullish for oil prices.
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