JAN 20 TUESDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 1956 , S2 RS 1910 , S3 RS 1870
R1 RS 2030 , R2 RS 2075 , R3 RS 2110.
Crude oil fell below $35 a barrel in New York on concern a
global recession may deepen after the U.K. bailed out banks
for the second time in three months.
Crude oil for February traded at $34.24 a barrel, down 6.2
percent from last week’s close, in after-hours trading on the
New York Mercantile Exchange at 11:26 a.m. Singapore time.
The contract, which expires today, fell as low as $33.89
yesterday, when floor trading was closed for the Martin
Luther King Jr. holiday. Yesterday’s trades will be booked
today for settlement.
Brent crude oil for March settlement was at $44.48 a barrel,
down 2 cents, on London’s ICE Futures Europe exchange at
11:24 a.m. Singapore time. The contract fell $2.07, or
4.4 percent, to $44.50 a barrel yesterday.
U.S. crude stockpiles increased 1.14 million barrels to 326.6
million barrels last week, the highest since Aug. 31, 2007,
the Energy Department said Jan. 14.
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