Better the market shares now look Uralsvyazinform (0.5%) and Gazprom (0,4%)

by admin on March 1st, 2010

The oil market in anticipation of Statistics

hours trading on the energy market opened correctional growth of quotations, which allowed futures on Brent crude by the middle of the day reach the level of 73,4 dollars. But then a wave of sales, covering markets, has led to renewed downward movement. As a result, closer to the closing session, the contract went to negative territory, but the level of 72,6, the restoration, the contract had returned to levels of previous day”s close. As a result, at the close of the contract was trading at 72.25 dollars per barrel.

Today, the morning session futures shows lateral movement at the level of previous day”s close. In the absence of ideas and expectations of important macroeconomic data from the U.S., the players chose to take a break and not make “sharp movements. However, statistics overlooking stir the market today and perhaps give impetus to the direction.

From a technical point of view, futures on Brent crude went up close to the support at the 71 dollar level above which started a short-term consolidation. In the case of breakdown at this level down can be expected to achieve the contract level of $ 65. If the market could turn on support and initiate upward movement, the immediate resistance level for him will be $ 75.

Meanwhile, Russia”s market after opening with “gepom down, unable to return to levels of previous day”s close and even get a plus, but keep the agreement reached” bulls “failed. A new wave of sales once again stole the market in negative territory. By the current moment the MICEX index lost 0,65%. In leaders reduction Norilsk Nickel and Rosneft, losing more than 1,5%. Better the market look Uralsvyazinform (0.5%) and Gazprom (0,4 %).

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