11/30/2012 Update:
Thursdays Crude Pit Session:
High: 88.69
Low: 87.62
Settle:
88.04
Looking
ahead to today’s crude pit session:
We saw crude
trade within a 1.07 range yesterday settling at 88.04 failing to hold above its
50 day moving average at about the 88.60 level. We need to watch this resistance level today
as a level that crude oil traders may look to sell. We will also keep a close eye on how oil
volatility and refined products are reacting to end of the month balancing. As well as, Geopolitical news out of
Washington regarding the fiscal cliff and Middle East tension that can impact
crude oil prices.
Levels:
Support: 88.12,
88.00, 87.62, 87.54, 87.05, 86.66, 85.98
Resistance:
88.61, 89.00, 89.19, 89.80, 90.25, 91.00, 91.75
Wednesdays Natural Gas Pit
Session:
High: 3.759
Low: 3.637
Close /
Settle: 3.650
Looking
ahead to today’s Natural pit session:
We watched
natural gas trade lower as the EIA inventory numbers came in at a 4 BCF build
much higher than the forecasted -5 BCF draw.
We need to keep an eye on the 3.600 support level as a break below this
number could push us down to the low end of our range at the 3.350-3.200 levels
Tune in this
morning to hear a full Analysis and pit commentary.
Levels:
Support:
3.620, 3.600, 3.586, 3,523, 3.345
Resistance:
3.637, 3.701, 3.764, 3.791, 3.879, 4.057
