H! Friends,
Crude Oil $110: Opposite Fundamentals Crude Oil Prices Continued Moving High 2 Higher Side Without Facing Any Major Problem. Due 2 Weaker U.S. Dollar. & Slowdown in U.S. Economy. Yesterday The Fed Said it Will Make Upto $200 Billion in Treasury Securities Available 2 Big Wall Street Investment Houses & Banks. The new Action is Designed 2 Ensure That There is An Ample Supply of Treasury Securities. With Strains in Financial Markets, Demand Has Grown 4 Treasury Securities, Considered The Safest Investment in The World Because They Are Backed By The U.S. Government. But No Results of $200 Billion News. Today Crude Oil Open $108.67 & After Weekly EIA CRUDE Inventories: Crude Oil:Act +6177K (Exp+1675K barrels), Gasoline:Act +1691K (Exp+100K barrels), Distillate:Act -1225 K (Exp-2000k barrels), Ref.utilization:Act -0.92% (Exp +0.05%) ((Data is Higher Than Expectations; As Per This Data Crude Oil Prices Has 2 Fall Upto $105 in Next 48 Hrs. But Crude Oil Climbed More Than $3.00 After EIA Weekly Report)) It Falls $107.09 & Than Creates New Life Time High of $110.20 & Right Now Trading Successfully Above $110.
Support/Resistance:
CLK8 - $98-100.65-$102.70-$106.20-$109.10-$111.15-$114.20
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Regards!
Bharat