DEC 19 FRIDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 2040 , S2 RS 1985 , S3 RS 1940
R1 RS 2140 , R2 RS 2185 , R3 RS 2230
STAY SHORT AT RESISTENCE.
Crude oil headed for the second- biggest weekly decline in
more than five years as a deepening global recession
saps demand, countering efforts by OPEC to boost
prices.
Crude oil for January delivery was at $36.29 a barrel,
up 7 cents, at 11:13 a.m. Singapore time on the New York
Mercantile Exchange. Oil has fallen 21 percent this week.
The January contract expires today. The more-active February
contract rose as much as 78 cents, or 1.9 percent, to $42.45
a barrel. It was at $42.41 a barrel at 11:20 a.m. Singapore
time.
Brent crude oil for February settlement was at $43.70 a
barrel, up 34 cents, on London's ICE Futures Europe exchange.
The contract yesterday declined $2.17, or 4.8 percent, to
settle at $43.36 a barrel.
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