11/12/2012 Update

Fridays Crude Pit Session:

High: 86.77

Low: 84.34

Settlement: 86.09

We watched crude prices continue to rise off it recent lows on Friday making session highs at 86.77.  We are expecting an open above Fridays 86.09 settlement level to be an indication that prices will continue to rise.   A break above 86.50 and 86.77 will further confirm this bullish indication and we could watch prices eventually push up into the 89 handle.  A break below 84.00 will be an extremely bearish indication that could push us down to the 80 handle

Resistance:  86.50, 86.77, 87.00, 87.50, 87.88, 88.00, 88.50, 89.00

Support:  86.00, 85.50, 85.00, 84.50, 84.34, 84.00

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