Economic Events: (GMT)

WEEKLY

 

Crude

Crude Oil Fundamental Analysis February 27, 2012, Forecast

Analysis and Recommendations:

Crude Oil extended gains a seventh day and keeping at a nine-month high on ongoing worries over Iran and supply disruptions. Prices hit $113.93 a barrel on April 29, a 52-week high, as concerns about geopolitical tensions in the Middle East had also taken the stage. Crude is currently trading at 109.22. Crude-oil futures gained 1.5% in the previous session. An official at the International Monetary Fund said Thursday that a halt of Iran's oil exports to the Organization for Economic Cooperation and Development countries could trigger a 20% to 30% jump in prices.

The sale of new single-family homes in the U.S. fell slightly in January, but only because sales in December were revised higher. Taken together, sales in those two months were the strongest in a year, a good sign for a market that's been in a deep slump since the 2007-2009 recessions.

Consumer sentiment rose in February to the highest level in a year on strong awareness of improving employment, according to a gauge released Friday by the University of Michigan

Consumer sentiment rose to 75.3 in February from 75 in January, achieving a sixth month of improvement. Consumers' expectations rose to 70.3 from 69.1, while their views on current conditions declined to 83 from 84.2.

Crude Oil Pivot Points (Time Frame: 1 Day)

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
106.480
107.220
108.460
109.200
110.440
111.180
112.420

Fibonacci
107.220
107.976
108.444
109.200
109.956
110.424
111.180

Camarilla
109.156
109.337
109.519
109.200
109.882
110.063
110.245

Woodie's
-
107.345
108.710
109.325
110.690
111.305
-

DeMark's
-
-
110.810
109.385
108.830
-
-