JAN 29 THURSDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 2010 , S2 RS 1960 , S3 RS 1910
R1 RS 2085 , R2 RS 2130 , R3 RS 2180
STAY SHORT AT RESISTANCE.
Crude oil and gasoline rose after a U.S. government report
showed an unexpected decline in stockpiles of the motor fuel.
Crude oil for March delivery rose 58 cents, or 1.4 percent,
to settle at $42.16 a barrel at 2:44 p.m. on the New York
Mercantile Exchange. Prices are down 5.5 percent this year
and are 54 percent lower than a year ago.
Crude oil inventories rose 6.22 million barrels to 338.9
million barrels in the week ended Jan. 23, the department
said. Supplies were forecast to climb 2.9 million barrels,
according to the median of 14 analyst estimates.
Brent crude oil for March settlement increased $1.17, or 2.7
percent, to settle at $44.90 a barrel on London’s ICE Futures
Europe exchange.
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