11/29/2012 Update:
Wednesdays Crude Pit Session:
High: 86.54
Low: 85.36
Close: 86.46
Settle:
86.49
Looking
ahead to today’s crude pit session:
Yesterday we
had our DOE/ EIA inventory data come with a draw in inventories, resulting in
crude prices to go higher after the data was release. As we look ahead to
today’s pit session we see crude catching a bid in the overnight session. Today
we have to keep a close eye on the 88 level, and any news about the fiscal
cliff. One other thing we must watch is
how crude oil volatility and the refined products react to end of the month
balancing.
Levels:
Support: 86.82,
86.12, 85.36, 85.00
Resistance: 88.00,
88.26, 88.50, 88.80
Wednesdays Natural Gas Pit Session:
High: 3.826
Low: 3.737
Close /
Settle: 3.802
Looking
ahead to today’s crude pit session:
Yesterday we
had expiration in the Dec Natural Gas contract at close of pit trading. Looking
ahead at today’s pit session we will still see money moving into the Jan
contract as today is first notice day for Jan. Also today we have Natural Gas
EIA inventory numbers coming out at 1030est; analysts are forecasting a draw of
5 BCF. Earlier this week we had a report stating there was going to be colder
than expected weather throughout the United States resulting in Natural Gas
prices going lower off the 4.060 level.
So today we really have to watch the inventory data to get a better
indication on where prices will be going.
Tune in this
morning to hear a full Analysis and pit commentary.
Levels:
Support:
3.737, 3.700, 3.660, 3.597
Resistance:
3.814, 3.891, 3.900
No comments:
Post a Comment