Judy Crawford: Energy Report

FEB MINI CRUDE OIL:  It has surpassed the 90.000 resistance and made a high today at 91.630 on the daily chart.  Long term it has a lot of support at 80.000 and this current rally could reach for 100.000.  Closed 91.510, up 1.03.

MAR MINI JAPANESE YEN:  I am beginning to think the yen has a complex.  Since late November it has had an obsession with getting back over 120.00.  As soon as it does, it fails and ends up right back under it.  It tries again, same results.  It tried again this week and finally got over it today.  Will it finally hold this time?  If it can, it now has the base under it to try for 122.00.  Closed 120.72, up .98.

MAR SWISS FRANC:  Today's performance was not too impressive.  When it reached this level in mid October, it failed to hold and had a significant sell-off.  Now, at least, it has more support under it and that could help.  Just watching.  Closed 104.26, down .86.

MAR DOLLAR INDEX:  Since it triggered a buy the other day, it has done nothing.  It triggered another one today with the same results.  It appears the 81.000 level is an issue.  Keep stops at 80.490.  Closed 80.832, down .241.
Position:  Long 81.150 (12.21).
Projection:  82.850.

MAR MINI EUROCURRENCY:  It triggered another sell today and did nothing.  After taking out yesterday's low it rallied to 131.480. Keep stops at 132.60.  Closed 131.110, up .28.

Position:  Short 130.860 (12.21).

Projection:  126.000.

MAR CANADIAN DOLLAR:  It finally succeeded in rallying over the 20 day ma today but was stopped by the 99.00 resistance area.  Last time it was in the middle of the range that it has been stuck in for some time.  It now seems headed for the high end again around 100.00.  Closed 99.00, up 52.

MAR AUSTRALIAN DOLLAR:  Last time it was in the process of a third wave up.  That continues to be the case.  The high today was 99.71.  In early November it was stopped by the 100.00 level so it is obviously trying to challenge that again.  Just watching.  Closed 99.52, up .56.

MAR BONDS:  Just looking at the daily chart it sure looks the recent rally is over with.  The top of the rally was formed by a key reversal and it has been making new daily lows since - even though not by a lot.  Just watching.  Closed 120.14, down 11.