NYMEX Crude Oil in Rally
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NYMEX December light sweet crude oil futures settled at $61.16 per barrel, up from
Wednesday's settlement at $59.83. Oil's recent trading action suggests further gains are likely from here. There is good resistance in the $61.79/$62.17 range. Above here would target at least $64-$65.75 with an outside chance of a move as
high as $67.20/$67.40.
This Rally Is Helping Precious Metals, And due to China News, and USD weakness, we
are Upto for a nice rally. If you see our analysis starting of the week, we
Analyised Crude Oil to Push higher this week, which is what we are seeing yet
today, with a nice Buying interests flowing in.
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