{"id":19842,"date":"2011-02-28T09:00:34","date_gmt":"2011-02-28T14:00:34","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19842"},"modified":"2011-02-28T09:00:34","modified_gmt":"2011-02-28T14:00:34","slug":"oil-continues-to-surge-on-middle-east-unrest","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/02\/28\/oil-continues-to-surge-on-middle-east-unrest\/","title":{"rendered":"Oil continues to surge on Middle East unrest"},"content":{"rendered":"<div>\n<div id=\"attachment_1111\">\n<p><strong>By GCI Forex Research<\/strong><\/p>\n<p><a href=\"http:\/\/forexnews.gcitrading.com\/wp-content\/uploads\/2011\/02\/Crude-Oil14.jpg\"><img loading=\"lazy\" decoding=\"async\" title=\"Crude Oil\" src=\"http:\/\/forexnews.gcitrading.com\/wp-content\/uploads\/2011\/02\/Crude-Oil14-1024x706.jpg\" alt=\"Crude Oil\" width=\"640\" height=\"441\" \/><\/a><\/p>\n<p>Crude Oil Movement<\/p>\n<\/div>\n<p>Oil prices advanced 1.49% against the USD for the 24 hour period on Friday, ending 23:00GMT, closing at 98.24.<\/p>\n<p>Oil advanced as the worsening situation in the Middle East stirred renewed concern about disruptions to oil production.<\/p>\n<p>At GMT 0400, Oil is trading at USD 99.59 per barrel in the Asian session, 1.37% higher from 23:00GMT.<\/p>\n<p>The pair has its first resistance at 100.86, followed by the next  resistance at 102.14. On the other side, the first support is at 97.26,  with the subsequent support at 94.94.<\/p>\n<p>The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.<\/p>\n<p><em><strong>Forex Daily   Market Commentary<\/strong><\/em> <strong><em>provided                                                     by<\/em><\/strong> <span style=\"text-decoration: underline;\"><strong><a href=\"http:\/\/gcitrading.com\/\" target=\"_blank\"><strong>GCI   Financial                                    Ltd<\/strong><\/a>.<\/strong><\/span><\/p>\n<p>GCI Financial Ltd (\u201dGCI\u201d) is a regulated securities and commodities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                trading                                        firm,                                                                                                   specializing                               in                                                                 online                                                                                  Foreign                                                                                                                Exchange                                                                                                                                      (\u201dForex\u201d)                                                                                                                                                                                 brokerage.                                        GCI                                                                               executes                                                                                          billions                                         of                                                                  dollars                                        per                                                                                                         month                  in                                                                                    foreign                                                                                                                                                                                    exchange                                                                                                                 transactions                                                             alone.                              In                                                                                      addition                                        to                                                                                   Forex,                             GCI                                                                  is a                                                                                  primary                                                                                                                                         market                                                       maker                  in                                                                                                        Contracts                                                  for                                                                                                                                                     Difference                                                  (\u201dCFDs\u201d)                                                           on                                                                               shares,                                                                             indices                                                                           and                                                                                                                           futures,                                                          and                                                                      offers                                 one                                    of                                         the                                                                             fastest                                                                                             growing                                online                                                         CFD                                                                                                          trading                                                                                                                                                                                           services.                             GCI                             has                                                         over                                                                 10,000                                                                             clients                                                                                                        worldwide,                                                                                                             including                                                                                                                                                                          individual                                                                                                                           traders,                                                                                                                                                 institutions,                                 and                                      money                                                                                                               managers.                            GCI                                                                                                                                                                          provides                                          an                                                                                 advanced,                                                                                                                                 secure,                      and                                                                                                                                                                              comprehensive                                          online                                                                                                                                           trading                                                                                                      system.                                             Client                                                              funds                  are                                                                                                                          insured                                                                                     and                                       held         in             a                                                                                                                                                                              separate                                                                  customer                                                                 account.                                     In                                                                                                                addition,                                   GCI                                                                                                                                                                     Financial                                                     Ltd                                                                                                                             maintains                           Net                                                                 Capital                                          in                                                                  excess                       of                                                                                                             minimum                                                                                                                     regulatory                                                                                                                                                                                             requirements.<\/p>\n<p>DISCLAIMER: GCI\u2019s Daily Market Commentary is provided for                                                                                                                                                                                                                                                                                                                                                                                                                                                                        informational                                                          purposes                                               only.                           The                                                                                                                              information                                                                                      contained                                 in                                                                                  these                                                                                                               reports                                                                                                                                 is                                                     gathered                                                                                              from                                              reputable                                               news                                                                                           sources                                         and                                             is                     not                                                                                                           intended                             to                                                                                     be                                                                                                  U.S.ed                                  as                                                                                                                                 investment                                                   advice.                                        GCI                                                                 assumes                                    no                                                                                                                                                                                      responsibility                                        or                                                                                                                                          liability                                                                          from                                                    gains                                                 or                                                                   losses                                                                                incurred                           by                                                                          the                                                                                                   information                                                                                                 herein                                                                                                                                                 contained.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices advanced 1.49% against the USD for the 24 hour period on Friday, ending 23:00GMT, closing at 98.24. Oil advanced as the worsening situation in the Middle East stirred renewed concern about disruptions to oil production.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-19842","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=19842"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19842\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}