MYR, Crude Oil And Gold Next direction 1-2 Months

 

 

 

 

 

Hi all, thanks to those who follow my blog in past few months. I've been quite for a while and to analyze market trend. To those new reader, feel free to follow my analysis in previous blogging.

 

 1.2016: When Most People Bearish, We Bullish

http://www.iamventure.blogspot.my/2016/01/2016-when-most-people-bearish-we-bullish.html

2. BIG Suprise In Early 2016

http://iamventure.blogspot.my/2016/01/big-surprise-rise-in-early-2016-for.html

3 . MYR will strengthening
 http://iamventure.blogspot.my/2016/01/malaysia-ringgit-will-strengthen-to.html

 4. WTI will stay above 30USD by end of Febuary 2016
http://iamventure.blogspot.my/2016/02/wti-crude-oil-will-stay-above-30usd-by.html

 5. My Forecast on next 2.5 months
http://iamventure.blogspot.my/2016/03/my-forecast-for-next-25-month-on.html



 

 

 

 

CRUDE OIL WTI

 

As my previous prediction 2.5 months theory, oil price hit year high 50usd. Now its time for oil price to take a breath. My latest analysis and indicator shows that oil price will remain sideway temporary. Major trend still downtrend and the price just hit lower band of the uptrend channel which I believe the price just hit the resistance. Remember on February 2016 I wrote about oil price when the price was the lowest for almost 10 years as it hit 26usd. Now price almost double from the lowest price.
I'm expecting there will be shorterm retrenchment in range of 45usd and the lowest it may hit 38usd.



GOLD

 

Gold currently heavily strong reversal signal and anytime it may hit 1400usd. Now the price close at 1274usd. Obviously the bull trend for gold is much more clear compared to other commodity. technically with current momentum it may hit new high


MYR VS USD

Technically MYR already strengthening till RM3.8 in April. At the moment I see the shorterm weakness on MYR/USD. My technical signal shows that, MYR will sideway in the range RM4.20-RM4.00. However, any bad sentiment can cause the MYR weaker to the max level RM4.30 if the level RM4.20 can be breach. I don't believe the price will hit above RM4.30 although the influence of bad sentiment especially rumors on 1MDB cases. The external factor such as low crude oil price has bigger influence than the internal factor. This issue I have been highlighted in my previous post. Current market volatility is just temporary and I see when the commodity price stabilize, everything will get back to normal.


Stay Tune on my next blogging.........Thanks for the reading