Rex Intl - Mimic Crude Oil Movements

The Rex Intl chart had been very tough to trade lately as it moved within a small range with some gaps. The movements had been erratic and to make forward predictions is not tough but tricky instead. Rex Intl mimic the crude oil prices and it's the only stock in the Singapore market now that trades heavily in volume in tandem to oil as compared to other oil companies like Keppel corp, Sembcorp or Sembmarine. Those blue chips are seldom traded with high volume as compared to Rex Intl. A quick one glance at the Top 30 Volume and you shall see Rex Intl dominating at the No 1 position.

The crude oil chart tumbled to deficit -40 last week and now bouncing back to +22 level which was because it broke out of the supply zone and now because the fresh demand came in, it started to recover back again. I don't see oil continue it's climb like this but rather it shall simmer off a little and will not have any any big rise in the coming days. The chart has already shown that it had risen from deficit to now positive and it's time for some small retreat. Hence, I won't be trading those oil related counters in Singapore as it's a risky sector to trade. I will share more in my IG story in my Instagram because I can post videos there. Click on the link below to follow me there.

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Ronald K - Market Psychologist - A Stock Market Opportunist