1/2/2012 Update:
Mondays Crude Pit Session:
High: 91.95
Low: 90.25
Settle: 91.78
Looking ahead to today’s crude pit session:
Crude oil prices pushed up to three month highs as lawmakers reached a deal to avoid the fiscal cliff. We are looking at the 93.50 area to be a key resistance area as crude traders have attempted to break this area to the upside 4 times since October and failed. A break of this resistance could push us up to the 95.00 handle. We are going to continue keeping a close eye on the options pits to see how the major players are positioning themselves after the fiscal cliff deal and for the New Year. Please listen to our 1-1-13 daily commentary for a more info on today’s pit action at: http://www.crudesquawk.com/daily-commentary.html and also tune at 850am this morning to hear a full analysis and pit commentary.
Levels:
Support: 92.96, 92.64, 92.26,91.88,91.56,91.18,90.00
Resistance: 93.34, 93.50, 94.42, 95.00, 95.50,96.00
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