2/15/2013 Update:

Thursday’s Crude Pit Session:

High: 97.71

Low: 97.07

Close:  97.30

Looking ahead to today:

We saw crude trade in a choppy tight .64 cent range yesterday as March options expired and as traders continued to roll to the April front month.   Looking ahead to today we need to be mindful that the March front month is now sharing volume with April.  That said, we will be keeping a close eye on the spread as well as the April options for an indication on how big players are balancing and positioning themselves into the roll. 

Levels:

Support: 96.77, 96.50, 96.50, 96.00, 94.95

Resistance:  97.01, 97.36, 97.71, 98.00, 98.30

  

Thursday’s Natural Gas Pit Session:

High: 3.284

Low: 3.315

Close:  3.165

Looking ahead to today:

We saw Natural Gas catch a large offer pushing us below the key 3.200 support level after yesterday’s 1030am  report show a less than expected draw in storage levels (-157BCF vs -166BCF)   We now need to keep a close eye on the 3.100 support.  A break below this level could push us to the 3.000 or possibly lower as this market continues to struggle to find support with the latest mild weather forecasts and the fact heating season is coming to an end.

Levels:

Support: 3.125, 3.100, 3.030

Resistance: 3.204, 3.284, 3.309, 3.378

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