Singapore Market Review for 2 Jan 2014. Joining the bandwagon of Oil and Gas Sector. Nam Cheong, Mermaid Maritime, Otto Marine, EMS Energy
By Stock Market • January 3, 2014
STI Potential Down-Side Setup. On first trading day of Year 2014, our local benchmark index gap up at opening but failed to close higher than opening level of 3179.67. It closed at 3174.65. As shown on the chart, it also failed to recover above the lower bound of an uptrend Andrew's Pitchfork. This creates the possibility of a potential down-side setup.
As mentioned earlier, the Singapore Oil and Gas Sector are still in Play. Now the China Oil and Gas Sector are also joining the bandwagon.
An email excerpt from Standard Chartered
As mentioned, the Oil and Gas Sector are still in play. Within the Oil and Gas Sector, for Big Cap Category (market cap of 500 million or more): - Nam Cheong up another 4.7%, after its impressive rally of 8.6% on 30 Dec 2013. - - Mermaid Maritime up 3.03%, ......
