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KNM Move Along With Crude Oil Price

KNM is out from KLCI index since early of July however foreign fund still like this share. Base on the chart KNM may form a W before moving up and this situation is fully base on oil price. Since April crude oil price had been speculative.

Many market observers had expected WTI crude oil prices to decline last week. Instead prices rose to USD63.36, their highest price level in eight trading days. While the global crude oil market may face ample supplies, inventories may be mostly of the heavy sour crude type, which is less desirable.

The higher benchmark prices for light sweet crude in Dubai and other market centers may represent tighter supplies for light crude. Crude oil inventories in the U.S. meanwhile continue to decline, while gasoline and distillate stocks are increasing. Prices may continue to show strength this week. WTI crude oil prices may move to USD65, with a possible spike to USD67 not out of the question.

Any increase in crude oil price will benefit to KNM share price.


Elvis2020 July 21, 2009 at 2:09 PM  

Perhaps it's time to buy this counter. Evendo a bit pricey but maybe can buy on dips, or better still buy when there's correction. At least you dont regret holding at higher price. I wil buy when this counter make a sudden correction below .80 cents.

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My investment with RM5,000 initial capital have been growing since 2005.I found the stock market appears confusing and complicated, but it is most definitely based on logic "supply and demand". However, the laws of supply and demand as observed in the markets do not behave as one would expect. To be an effective trader, there is a great need to understand how supply and demand can be interpreted under different market conditions and how to take advantage of this Off Market Transactions in KLSE.

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