Three Reasons To Watch Crude Oil Futures This Week
Monday was classic “reversal of the reversal” action, as Friday’s
bullish hanging man formation was easily taken out by wide range bars down on
the S&Ps, and the Nasdaq futures.Â
January Crude Oil was up, as talks broke down between Venezuelan officials
and strikers. January crude rose.27 to $27.20. The US Energy Information
Administration said it expects oil prices in the $25 range by the end of next
year. Also, UN inspectors are busy deciphering Iraq’s weapons tome. OPEC meets
this Thursday in Vienna.
After putting in a good week, gold futures pulled back today. February Gold
closed down .60 to 326.50.
Expectations that Brazil will have record exports sent March sugar down .22
to 7.23.
Fighting in the Ivory Coast continues, and July Cccoa rose $103 to $2015.
Â