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Thursday, February 16, 2006

Markets To Watch Today!

Crude Oil: Crude drops nearly $2 in yesterday's session on news of a higher than expected surplus. The contract has lost nearly $5 a barrel in less than a week and some analysts say the bull run may be over. Crude Oil traded on the overnight ACCESS session found some support and is trading at $58.25 as of 8:10 am CST.

Copper: Copper may have met the end of its year long rally as technicals show weakness and bearish fundamentals including slowed US production, news of a Chilean hedging program and Bernanke's hint of continued interest-rate hikes. March Copper is trading at $2.1610, down 3 cents as of 8:15 am CST. The contract lost 7.25 cents in yesterday's session.