JAN 23 FRIDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 2010 , S2 RS 1970 , S3 RS 1920
R1 RS 2088 , R2 RS 2120 , R 3RS 2160
WAIT FOR CONFIRMATION.
Crude oil fell after U.S. stockpiles rose more than four
times forecast last week, raising concern of an oversupply
as the global recession deepened.
Supplies of crude oil in the U.S. rose 6.1 million barrels
to 332.7 million last week, the highest since August 2007,
the Energy Department said yesterday.
Crude oil for March delivery fell as much as $1.08, or 2.5
percent, to $42.59 a barrel in electronic trading on the
New York Mercantile Exchange. It was at $42.95 a barrel at
10:28 a.m. Singapore time.
Brent crude oil for March settlement fell as much as 73 cents,
or 1.6 percent, to $44.66 a barrel on London’s ICE Futures
Europe exchange. The contract rose 37 cents, or 0.8 percent,
to settle at $45.39 a barrel yesterday.
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