Friday, September 25, 2009

Crude Oil Prices Breaks USD 67 Barrel

Basically looking at this market movement today, I would rather say there isn't anything special going to happen to our Malaysian Share Market. The market have already move for quite sometimes and as usual we can't really find any counters going to behave just like a market leader.

If we exam the share market movement it seems that most of them look really tired but the world equities market just won't go down. Looking at current Crude Oil prices (USD 66-67 per barrel), this is not really a good indicator or a good sign for the world equities market.

I have been monitoring the Crude Oil prices movement since last year although I'm not one of the player but whenever Crude Oil prices went down, we have to be careful with the Dow Jones Industrial Average (DJIA). Most of the time Crude Oil prices move accordingly with the DJIA. It happens most of the time but not always. If the DJIA follow the exact trend of the Crude Oil (going down) then it would really a bad sign.

Right now we just can't say that the Crude Oil prices are heading towards the downtrend channel. They need to be confirm if the Crude Oil prices still going down further (break the USD 62.70 per barrel) but we have to monitor it closely in order to preserve our profit margin if the DJIA really follow the Crude Oil prices movement.

Who know ? Anything can happen ..............

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