US Stock Analysis (2012-02-08)
| Crude Oil | |||
| Previous Day Range | High: 99.13 | Low: 95.83 | Close: 98.63 |
| Technical Chart | Resistance R-2: 101.16 R-1: 99.89 |
Support S-1: 96.59 S-2: 94.56 |
Forecast High:99.89 Low: 96.59 |
| Oil rose the most in three weeks as the dollar fell against the euro after Federal Reserve Chairman Ben S. Bernanke said the 8.3 percent rate of unemployment in January understates weakness in the U.S. labor market. Futures increased 1.5 percent as the currency dropped on Bernanke’s comments and signs that Greece is near a debt agreement. West Texas Intermediate crude advanced more than Brent in London, reducing the European benchmark’s premium over New York oil for the first time in nine days. “Bernanke made some pretty bearish statements and the dollar tanked,” said Stephen Schork, president of the Schork Group in Villanova, Pennsylvania. “Once the dollar dropped you saw WTI rebound.” Oil for March delivery rose $1.50 to settle at $98.41 a barrel on the New York Mercantile Exchange, the biggest one-day gain since Jan. 17. Prices have fallen 42 cents this year. |
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| SPI | |||
| Previous Day Range | High: 1345.75 | Low: 1331.75 | Close: 1344.75 |
| Technical Chart | Resistance R-2:1354.75 R-1:1349.75 |
Support S-1:1335.75 S-2:1326.75 |
Forecast High:1349.75 Low :1335.75 |
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| NDI | |||
| Previous Day Range | High: 2534.75 | Low: 2511.75 | Close: 2529.25 |
| Technical Chart | Resistance R-2:2548.25 R-1:2538.75 |
Support S-1:2515.75 S-2:2502.25 |
Forecast High:2538.75 Low:2515.75 |
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| DJI | |||
| Previous Day Range | High: 12851 | Low: 12729 | Close: 12831 |
| Technical Chart | Resistance R-2: 12926 R-1: 12878 |
Support S-1: 12756 S-2: 12682 |
Forecast High: 12878 Low: 12756 |
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