Crude Oil evolution (13:20 CET)

By IBTimes Staff Reporter | October 23 2009 8:12 AM

The crude is still trending higher, trading at 81.27 dollars per barrel at the NYMEX right now. For the rest of the session, the outlook is positive for the crude, as China's demand will rise after 2010. The next resistance is found at 85.00 (key target), while on the downside the first intraday support is at 80.00. Today, pay attention to Bernanke's speech about inflation, the existing home sales in the US and Microsoft's quarterly results. These could give us excellent trading opportunities.

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