JAN 2 FRIDAY
SHORT TERM TREND :BEARISH
LONG TERM TREND : BEARISH
S1 RS 2080,2010,1960
R1 RS 2130, 2180, 2220
STAY LONG AT SUPPORTS
Crude oil fell in New York, extending its worst yearly drop,
on concern that a global economic contraction will limit
fuel demand.
Crude oil for February delivery dropped as much as $2.32,
or 5.2 percent, to $42.28 a barrel in after-hours electronic
trading on the New York Mercantile Exchange. It was at $42.87
a barrel at 12:31 p.m. Singapore time.
Crude oil may rise next week as the Organization of Petroleum
Exporting Countries makes record production cuts to counter
the deepest economic slump since World War II.
Brent crude oil for February settlement fell as much as $2.07,
or 4.5 percent, to $43.52 a barrel on London’s ICE Futures
Europe exchange. It was at $44.01 a barrel at 12:32 p.m.
Singapore time. The contract on Dec. 31 rose $5.44, or 14
percent, to settle at $45.59 a barrel.
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