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1561-1580 of 3003
Just got in today, take profit tomorrow. 
Midday Report : Crude Oil Futures for October Settlement
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Oil is hovering around 85.00 area, where the downside pressure continues. The ascending support shown on image should act as a support for intraday price action, and may halt the current downside move temporarly to result in a possible upside correction. RSI has formed a clear bullish divergence over hourly basis supporting the upside potential. Therefore, we might see a rebound towards 86.50 area before continuing the intraday downside move. Breaching the ascending support around 84.00 will negate any near term correction.
The trading range for week is among the major support at 79.00 and the major resistance at 89.00.
The short-term trend is to the downside with steady daily closing below 100.00 targeting 65.00.
| Support | 84.50 | 83.00 | 82.30 | 81.00 | 80.00 |
| Resistance | 86.50 | 87.20 | 87.80 | 89.00 | 90.00 |
| Recommendation | Based on the charts and explanations above we recommend buying oil around 84.30 targeting 86.40 and stop loss with four-hour closing below 84.00 OR selling oil around 86.40 targeting 84.40 and 83.00. Stop loss with four-hour closing above 87.60 | ||||
Comex Gold (GC)
Gold's rebound from 1705.4 extend further to as high as 1887.4 last week and seems to be accelerating. Initial bias remains on the upside for 1917.9 high. Break will confirm up trend resumption and should target 2000 psychological level. On the downside, break of 1815.5 minor support will flip bias to the downside towards 1705.4 to continue the consolidation from 1917.9.
In the bigger picture, firstly, gold's long term up trend is still intact and there is no signal of reversal yet. Current development suggests that gold will attempt to make a new record high above 1917.9 in near term possibly to 61.8% projection of 1478.3 to 1917.9 from 1705.4 at 1997.1. But we'll be cautious on another near term reversal near to 2000 psychological level and finally bring some lengthier consolidation. But in any case, we won't consider medium term reversal possibly before sustained break of 55 days EMA (now at 1691.7)
In the long term picture, rise from 681 is treated as resumption of the long term up trend from 1999 low of 253 and there is no sign of topping yet. Current up trend could now be targeting 161.8% projection of 253 to 1033.9 from 681 at 1945.6. Sustained trading above 2000 psychological level should pave the way to 261.8% projection at 2727.2.
Comex Gold Continuous Contract 4 Hours Chart
Nymex Crude Oil (CL)
Crude oil's recovery was limited at 89.90 last week. Despite breaking 89.61 support turned resistance briefly, it failed to sustain above there and thus, we're holding on to our bearish outlook. That is, price actions from 75.71 are treated as consolidation in the decline from 114.83 only. With 4 hours MACD staying below signal line, initial bias is neutral this week. Break of 82.95 minor support will suggest that such recovery is finished already and will turn bias to the downside for retesting 75.71 support. Nevertheless, sustained trading above 90 psychological level will dampen this view and turn focus back to 100.62 resistance instead.
In the bigger picture, medium term rebound from 33.2 is treated as the second leg of consolidation pattern from 147.24 and should have finished at 114.83 already. Current decline should target next key cluster support at 64.23 (61.8% retracement of 33.2 to 114.83 at 64.38) next. Sustained break will pave the way to retest 33.2 low. However, break of 100.62 resistance will indicate that fall from 114.83 has completed after meeting missing 100% projection target. The corrective structure of such decline in turn argues that rise from 33.2 is still in progress for another high above 114.83.
In the long term picture, crude oil is in a long term consolidation pattern from 147.27, with first wave completed at 33.2, second wave might be finished. Upon confirmation of medium term reversal, the third wave of the pattern should have started for a retest on 33.2 low.
Nymex Crude Oil Continuous Contract 4 Hours Chart
Submitted with respect to: SEMBCORP MARINE LTD
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Name of Overseas Exchange where Company has Dual Listing (if applicable): Maximum number of shares authorised for purchase: 208,486,926 Purchases made by way of market acquisition: Yes
Date of Purchases (Singapore Exchange): 02/09/2011 Date of Purchases (Overseas Exchange): Total number of shares purchased: 500,000 Total number of shares purchased: Number of shares cancelled (Singapore Exchange): 0 Number of shares cancelled (Overseas Exchange): Number of shares held as treasury shares (Singapore Exchange): 1,684,435 Number of shares held as treasury shares (Overseas Exchange):
Price paid per share# currency (Singapore Exchange): S$ Price paid per share# currency (Overseas Exchange): Price paid per share# amount (Singapore Exchange): 3.89 Price paid per share# amount (Overseas Exchange): Highest price per share currency (Singapore Exchange): Highest price per share currency (Overseas Exchange): Highest price per share amount (Singapore Exchange): Highest price per share amount (Overseas Exchange): Lowest price per share currency (Singapore Exchange): Lowest price per share currency (Overseas Exchange): Lowest price per share amount (Singapore Exchange): Lowest price per share amount (Overseas Exchange): Total consideration (including stamp duties, clearing charges, etc) paid orpayable for the shares currency (Singapore Exchange): Total consideration (including stamp duties, clearing charges, etc) paid orpayable for the shares currency (Overseas Exchange): Total consideration (including stamp duties, clearing charges, etc) paid orpayable for the shares amount (Singapore Exchange): 1,947,156.00 Total consideration (including stamp duties, clearing charges, etc) paid orpayable for the shares amount (Overseas Exchange): Purchases made by way of off market acquisition on equal access scheme? No If answer to the above is Yes. Date of Purchases (Singapore Exchange): Date of Purchases (Overseas Exchange): Total number of shares purchased (Singapore Exchange): Total number of shares purchased (Overseas Exchange): Price paid or payable per share# currency (Singapore Exchange): Price paid or payable per share# currency (Overseas Exchange): Price paid or payable per share# amount (Singapore Exchange): Price paid or payable per share# amount (Overseas Exchange): Total consideration (including stamp duties, clearing charges, etc) paid orpayable for the shares# currency (Singapore Exchange): Total consideration (including stamp duties, clearing charges, etc) paid orpayable for the shares# currency (Overseas Exchange): Total consideration (including stamp duties, clearing charges,etc) paid orpayable for the shares# amount (Singapore Exchange): Total consideration (including stamp duties, clearing charges, etc) paid orpayable for the shares# amount (Overseas Exchange): Cummulative no. of shares purchased to-date (By way of market acquisition): 2,250,000 Cummulative no. of shares purchased to-date Percentage (By way of marketacquisition): 0.1079 Cummulative no. of shares purchased to-date (By way of off-market acquisition onequal access scheme): Cummulative no. of shares purchased to-date Percentage (By way of off-marketacquisition on equal access scheme) Cumulative no. of shares purchased to-date Total: 2,250,000 Cumulative no. of shares purchased to-date Percentage Total: 0.1079 Number of issued shares excluding treasury shares after purchase: 2,082,979,053 Number of treasury shares held after purchase: 2,184,435