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Thursday, September 21, 2006

SPC

As requested by JAMES. Listed since 25 October 1990 on SGX Mainboard, SPC business activities can be classified into Downstream (petroleum refining, trading activities, storage and terminalling of finished products) and Upstream (exploration, development, production, sale of oil and gas and investment in pipelines).

Technically, prices have been steadily declining after reaching recent high of 5.20. The decline in spc's prices is a reportedly attributed to the weakening of crude oil prices, which has affected refining prices for SPC. RSI is trapped within a downtrend zone with next significant support at 4.36. Prices need to stablize at the 4.60 region in order to break away from the downtrend.

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