JAN 22 THURSDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 2060 , S2 RS 1980 , S3 RS 1930
R1 RS 2120 , R2 RS 2160 , R3 RS 2240
STAY LONG AT SUPPORT FOR INTRA DAY.
Crude oil extended gains on speculation a bank-rescue plan
by President Barack Obama will help boost economic growth
and increase fuel demand.
Oil climbed 6.6 percent yesterday as stocks rallied on the new
U.S. president’s plans to complete an assistance program that
can be paired with the $825 billion stimulus package.
Crude oil for March delivery rose as much as 68 cents, or
1.6 percent, to $44.23 a barrel on the New York Mercantile
Exchange. It was at $44.10 a barrel at 11:13 a.m. Singapore
time. Oil has fallen 1.1 percent since the end of December and
is 49 percent lower than a year ago.
Crude oil rose even as Japan, China and South Korea showed signs
of further economic slowdown. Oil futures rebounded after
falling 21 percent in the past two weeks. Crude fell as low
as $32.70 a barrel on Jan. 20, the lowest in a month.
Brent crude oil for March settlement rose as much as 47
cents, or 1 percent, to $45.49 a barrel on London’s ICE
Futures Europe exchange. The contract yesterday rose $1.40,
or 3.2 percent, to settle at $45.02 a barrel.
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