The Rise and Return of O&G... NOW?

2 big news from O&G industry in the last month of 2016.

2 gap ups in the Brent Oil chart [1]

Notice that there are two gap ups? I had labelled A and B in the chart above. A happened when OPEC (Organization of Petroleum Exporting Countries) agreed to first ever production cut in 8 years[2]. It happened on 30 November 2016. The gap up in B happened immediately after non-OPEC and OPEC producers agree on output cut[3]. 

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Sell in May and Go Away?

Sell in May and go away... Seems like it is a mixed myth and fact throughout all these years. Will this myth continue to happen in this year? First, let's look at the FBMKLCI monthly chart and try to correlate...

FBMKLCI Monthly Chart

From the past year statistics, 2013's May shows a bullish month. 2014's May show a doji with thin body and long tails. For 2015's May, it is a big bearish engulfing which in the following months drag down the FBMKLCI to the lowest of 1503.68 in August 2015. In my previous post[3], i still remember for the month of March, there is a bullish engulfing, and this month April it forms a bearish engulfing. The market is totally unpredictable. 

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