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Crude Oil Fundamental Analysis February 9, 2012, Forecast

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Crude Oil Fundamental Analysis February 9, 2012, Forecast

Crude Oil Fundamental Analysis February 9, 2012, Forecast

Analysis and Recommendations

Crude Oil is currently trading up 59 cents, or 0.6%, to $99 a barrel. Weekly government inventories showed a smaller-than-expected increase in supplies, but they trimmed gains as the data contrasted with a trade group's earlier report of a steep decline - a bit confusing. Oil traded as high as $100.09 a barrel earlier, and as low as $98.17 a barrel. The Black Gold pared gains slightly after the Energy Information Administration's report. Moments before the data, the March contract traded at $99.76 a barrel.

Crude Oil Pivot Points (Time Frame: 1 Day)

Name S3 S2 S1 Pivot R1 R2 R3
Classic 96.0333 97.0617 98.0133 99.0417 99.9933 101.022 101.973
Fibonacci 97.0617 97.8180 98.2853 99.0417 99.7980 100.265 101.022
Camarilla 98.4205 98.6020 98.7835 99.0417 99.1465 99.3280 99.5095
Woodie's - 97.0425 97.9750 99.0225 99.9550 101.003 -
DeMark's - - 100.508 99.2987 98.5275 - -

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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