Monday, October 21, 2002 1:42:30 PM
13:40 ET Nasdaq touches new one-month high : -- Technical -- Index has broken to its best levels since September 12th. Currently trading at 1302, look for initial resistance at 1307 followed by additional overhead at 1315. To the downside, look for initial support now at 1300 followed by an additional floor in the area of 1295.
13:22 ET Crude oil comes under pressure : December crude oil has backed up 4.4% today, taking out support in the $28.80 area and in the process retreating to its lowest level in six weeks. Being attributed for the steep decline in the commodity is statement by Sec of State Colin Powell that the U.S. is more concerned with disarming Iraq than achieving regime change. Decline in crude is carrying over to the Oil Services complex (OSX -0.6%). But group has made a move off its lows as broader market tacks on gains
13:22 ET Crude oil comes under pressure : December crude oil has backed up 4.4% today, taking out support in the $28.80 area and in the process retreating to its lowest level in six weeks. Being attributed for the steep decline in the commodity is statement by Sec of State Colin Powell that the U.S. is more concerned with disarming Iraq than achieving regime change. Decline in crude is carrying over to the Oil Services complex (OSX -0.6%). But group has made a move off its lows as broader market tacks on gains
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