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2009-07-21

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.

1 comments:

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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