JAN 5 MONDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 2210 , S2 RS 2170 , S3 RS 2135
R1 RS 2285 , R2 RS 2310 , R3 RS 2356
STAY LONG AT SUPPORT.
Crude oil rose for a third day in New York after Israeli
troops entered the Gaza Strip, escalating the 10-day old
conflict and threatening stability in the Middle East,
the largest oil-producing region.
Crude oil for February delivery rose as much as $2.34, or
5.1 percent, to $48.68 a barrel in after-hours electronic
trading on the New York Mercantile Exchange. It was at
$47.17 a barrel at 11:33 a.m. Singapore time.
The contract gained 3.9 percent to $46.34 a barrel on Jan. 2,
the highest settlement since Dec. 11. Prices climbed 23
percent last week, the most since August 1986, buoyed by
the Gaza conflict, a natural gas dispute between Russia
and Ukraine, and a rebound in equity prices. Oil tumbled
27 percent the week before.
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