1/7/2013 Update:
Fridays Crude Pit Session:
High: 93.15
Low: 92.22
Settle:
93.07
Looking
ahead to today’s crude pit session:
Fridays
Crude pit session was relatively volatile finally settling the day up at
93.07. EIA inventory reports showed a much
larger draw than expected at -11.12 Million Barrels. This larger than expected draw would normally
put tremendous upward pressure on Crude Oil Prices, however many floor traders attributed
the large draw to year-end inventory adjustments. This sentiment combined with the US dollar
trading at 3 week highs continues to hold prices back. Traders are looking at the 91.50 level as
short term support and the 93.50 area as resistance. A break and hold above or below either one of
these levels could easily cause Crude Oil Traders to push prices to the t the extremes
of our 90-95.00 dollar range.
Levels:
Support: 92.56,
92.14, 91.50, 91.00, 90.50, 90.00
Resistance: 92.70, 92.98, 93.40, 93.80, 94.50, 95.00
Fridays Natural Gas Pit Session:
High: 3.299
Low: 3.232
Close / Settle:
3.287
Today’s
Natural Gas pit session:
We watched
Natural Gas close higher on Friday session at 3.287 after inventory reports
that showed a larger draw than forecasted -135B vs 129B. However, Natural Gas Traders continue to
struggle with warm weather pattern predictions.
They are looking at 3.350 area as resistance and 3.165 as support a
break above or below these levels could easily bring us to the extremes of our
3.00 to 3.50 range
Tune in this
morning to hear a full analysis and pit commentary.
Levels:
Support: 3.299,
3.278, 3.245, 3.189, 3.165, 3.050
Resistance: 3.357,
3.386, 3.398, 3.413, 3.437, 3.500
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