Fellow traders,
Thousands of foreigners have fled Libya amidst the political unrest & violence in the North African nation. On Wednesday, 23 Feb 2011, Crude oil prices reached US$100 a barrel in the United States due to the continued unstable situation in Libya - which is the 12th largest exporter of crude.
On Wednesday, 23 Feb 2011, the Dow Jones Industrial Average and the S&P 500 Index breached their 30 Day Moving Average for the 1st time since Nov 2010. There was a rebound on the moving average on Friday, 25 Feb 2011. Now we have to see whether this rebound will take strength next week.
Yours Truly,
Tony Chai
2 comments:
will dow up or down after breaching 30 ma?
Hi,
It's difficult to say. If the situation in Libya is not resolved which leads to escalating oil prices, the economy may have a hard time recovering with inflation in view.
In Singapore, the government has already warned about expectation of higher inflation.
Tony
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