🔹 Key Summary:
During the holiday break, global markets showed some fluctuations, with commodities reflecting a mixed performance. Today, futures are likely to remain in a range-bound pattern, continuing the trend from before the holiday with limited downside and weak rebound potential.

🔸 Overseas Market Performance During the Holiday:

1️⃣ US & European Stock Markets:
Both the US and European stock markets saw a rise of 2% to 3% during the holiday period, boosting risk sentiment temporarily.

2️⃣ Base Metals Movement:
Base metals experienced a “drop-then-rebound” pattern, with an initial 3.5% drop, followed by a slight recovery. As of now, prices are down by about 1%.

3️⃣ Crude Oil Volatility:
Crude oil followed a similar path, dropping initially by 4% to 5%, before staging a minor recovery. It now shows a modest decline of around 1.6%.

4️⃣ Singapore Iron Ore Swaps:
The Singapore iron ore swap also showed a “drop-then-rebound” pattern. It closed Thursday afternoon at $96.85 per ton, hitting a low of $94.7, a drop of 3.2%. The price has since recovered slightly, currently standing at approximately $96.3, with a decline of just 0.5%.

🔹 Market Outlook for Today:

Based on the above movements, the likelihood of a continued range-bound consolidation is high. The market is expected to follow the same pattern as before the holiday, with limited downside and weak rebound potential.

🔸 Expected Trading Range:
We anticipate the trading range to remain between 3070 and 3150 points, continuing the sideways movement with no significant breakout in either direction.

🔹 Strategy & Market Sentiment:
• The current market sentiment is subdued, with limited risk appetite post-holiday.
• The lack of fresh momentum suggests a continuation of the sideways trend.
• Traders should exercise caution and consider light positioning until clearer direction emerges.

📌 Daily insights provided by LangZo Steel. For reprints, please credit LangZo Steel.