Day Trading 25 Jan Pre Market

Morning all
Thanks weekenders

The ASX is set looking to move higher for a third session today following solid gains Friday night in overseas markets.
ASX Futures are 55 points higher at 4934

A surge in the oil price over $30 lifted European markets with oil companies leading the charge, rising 5.1 percent. Cold weather and firmer financial markets saw traders cash in on record short positions.
"Markets have seen a dramatic shift in sentiment in the space of a few days," said Jasper Lawler, market analyst at CMC Markets, adding that recent volatility in oil prices would keep equity investors nervous.
"The rally in stocks (on Friday) is more about the oil price than hopes of stimulus from the ECB.
That puts it on shaky ground." 1

US equities joined in and pushed oil to its best two day rise since 2009 as speculation rose that central banks will expand stimulus measures to counter turmoil in financial markets. Haven assets from Treasuries to gold retreated.
The significant oil bounce, strong housing numbers and a 5% surge in Apple helped the S&P 500 toward a
2% rise. A strong day for Goldman Sachs also buoyed sentiment
Apple jumped 5%+ after Minneapolis-based Piper Jaffray recommended investors buy shares ahead of next week's earnings report, asserting the stock could jump 50 percent by the presumed iPhone 7 launch in September. Apple is well off its 52-week low and has quietly climbed back over $100 per share. 3
"The question is where do we go from here," said Veronika Pechlaner, who helps oversee $US10 billion at Ashburton Investments, part of FirstRand Group. "It's become harder and harder for stimulus to really support the economic fundamentals so it doesn't mean a medium- and long-term change, but at least we have a bit more stable trading environment for a couple of days." 2
Dow + 1.3%
S&P +2%
Nasdaq + 2.7%

Oil traders are arguing whether Friday's price bounce is of the deceased feline variety or the real deal.
"I don't think we've found a bottom yet," said Fawad Razaqzada, technical analyst for Forex.com and City Index in London. He does not expect prices to extend their recovery to above $35 a barrel, the level needed to prevent a further slide. U.S. crude closed at $32.19 on Friday, up 9 percent. 1
The recent low is at $26.19, any falls below that bring a $21 -$25 range into play.

Iron ore rose 3.2% to $42.20 after Vale was ordered to close its' huge Brazilian shipping terminal and port in the wake of the environmental disaster.

Renewed market volatility and the Federal Reserve’s tone following its first monetary policy meeting of the year should help to push gold prices higher next week, this according to market analysts.
Although Comex February gold futures were unable to hold earlier gains, settling Friday’s session at $1,096.30 an ounce, the precious metal is ending the week with a slight gain of 0.64%.
However, it has been the market’s price action that has impressed analysts and retail investors; gold futures continue to camp around the $1,100 area despite a positive rebound in equity markets. 3
HUI + .95%
AUD Gold $1568

AUD .7003

BHP ADR + 2.3%
WPL ADR +3%

Have a good day

Sources :
1. Reuters
2.SMH
3. *****