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Thursday, October 12, 2006

Crude Oil Update

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NYMEX November light sweet crude oil futures settled at $57.86 per barrel, up from Wednesday settlement at $57.59 as well as an earlier lowof $57.22.
Precious metals followed the crude Oil how they Moved today.
570 is a solid Support for Gold.
Crossing 584 level is important for gold to push high upwards to 593 where another resistance is lying.
Main key for the moment is focusing Crude Oil. Considering it pushing back again above $60, should help the Precious Metals Heavily.

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