Chart Source: Poemsview 4th Dec 2018
Sembcorp Industries another oil related stock and part of the STI component stock had a nice run just like Sembcorp Marine.
We’re glad that we managed to alert our EXCLUSIVE CLIENTS when Sembcorp Industries was near the bottom at $2.64. A nice run up came shortly hitting our $2.75 target.
Currently Sembcorp Industries is being resisted by the horizontal resistance at $2.75 and also the 50ema. A break above that might see it move up to $2.82.
Opec meeting is just around the corner and market is awaiting for oil production to be cut. Will Opec cut? How much will they cut their production by? How will this impact the oil market?
Has oil stocks ran ahead of Opec meeting? What if OPEC fails to deliver?
What would your trade plan be?
Are you prepared for the eventual outcome?
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