KUALA LUMPUR, Feb 14 (Bernama) -- Bursa Malaysia pared most of its losses to close marginally lower today, supported by late buying in banks after heavy selling in CelcomDigi earlier, amid continued weak market sentiment due to the US trade policies. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased by 0.68 of-a-point to 1,591.60 compared to yesterday’s close of 1,592.28. The market barometer opened 0.63 of-a-point higher at 1,592.91 and moved between an intraday low of 1,587.58 and an intra-day high of 1,595.01. Losers outnumbered gainers 598 to 433, while 445 counters were unchanged, 843 untraded and 22 suspended. Turnover expanded to 3.27 billion units worth RM2.40 billion from 2.56 billion units worth RM2.22 billion on Thursday. Rakuten Trade Sdn Bhd's vice president of equity research Thong Pak Leng said the FBM KLCI remained in consolidation mode, struggling to brea...
While the bearish market continue in the market as oil price plunge continue, some analysts are starting to believe the bottom is near.
It is hard to predict where the bottom is but some forecasters believe the long tumble of crude oil is about to come to an end.
The average forecast in the latest survey believe that the crude oil to trade at US$64 a barrel at the end of December 2014.
With the crude oil (brent) at US$61.85 per barrel now, some analyst believe the sharp drop is coming to an end.
It is difficult to do a forecast but it is likely for us to see the oil price to trend at this level for the coming weeks.
What say you? Did the analysts get it right this time?
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