CRUDE OIL
Oil continued to rise to gain a three-month high, heading for the longest run of weekly gains since early 2009, on speculation that Italy and Greece’s new appointments and measures to the debt crisis is being contained. Early morning trading saw crude rise as much as 75 cents to $98.51 a barrel, the highest intraday price since August 1 and is heading for weekly gains of 4.1 percent.
Key tech levels are 99.25, 99.95 and 101 as resistance, with the energy finding support at 96.3, 95.3 and 93.65
GOLD
The bullion continued to rise as investors seek a safe haven and protect their wealth from the continued uncertainty of the European debt crisis. Gold saw gains of 0.48 percent in the London morning trading session with high of 1769.86. Gold has climbed 24 percent to $1,764.50 this year, heading for an 11th consecutive annual advance. Investors and analysts expect the metal to rise next week with gold already exceeding the $1800 a per ounce mark early this week.
Key levels for are 1778, 1800 and 1810 are resistance, with 1748, 1737 and 1722 as support levels.