Fed has cut the interest rate by 1/4 points. It is highly anticipated.
What happen to these oil related stocks?
Let's look at the current US crude stocks.
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| US Crude Oil Stocks |
The price of oil has stabilized for now since the attacks. There are various reports of USA preparing responses to Iran that may increase the price of oil. This may be opening a small window of opportunity to buy these stocks.
There is positive sentiments of these stocks in first half an hour trade.
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| Keppel Stock Chart |
Keppel has traded higher. At the opening trade, there is a sell that pushes the price down to 6.12. The buy support is at 6.14. the RSI is moving higher towards the green zone. The momentum looks positive.
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| SembMarine Stock Chart |
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| SembCorp Stock Chart |
The sell and buy is stabilized at this level. Volume is low. RSI and Momentum does not provide much direction. Break out can happen but it is hard to predict the direction.
Given the current analysis, Keppel appears to be interesting to test it out.
Please see disclaimer in my blog.
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