{"id":19903,"date":"2011-03-03T08:20:20","date_gmt":"2011-03-03T13:20:20","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19903"},"modified":"2011-03-03T08:20:20","modified_gmt":"2011-03-03T13:20:20","slug":"crude-oil-continues-rising-trend","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/03\/03\/crude-oil-continues-rising-trend\/","title":{"rendered":"Crude Oil: Continues rising trend"},"content":{"rendered":"
By GCI Forex Research<\/strong><\/div>\n
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\"Crude<\/a><\/div>\n
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Crude Oil Movement<\/p>\n<\/div>\n

Oil prices advanced 2.05% against the USD for the 24 hour period ending 23:00GMT, closing at 102.34.<\/p>\n

Crude futures closed above $102 a barrel Wednesday, after an unexpected decline in last week\u2019s US oil inventories and continuing political turmoil in the Middle East raised concerns about global supplies.<\/p>\n

The EIA report showed that the US commercial crude oil inventories decreased by 0.4 million barrels from the previous week, to reach 346.4 million barrels.<\/p>\n

At GMT 0400, Oil is trading at USD 102.54 per barrel in the Asian session, 0.20% higher from 23:00GMT.<\/p>\n

The pair has its first resistance at 103.72, followed by the next resistance at 104.91. On the other side, the first support is at 100.58, with the subsequent support at 98.63.<\/p>\n

The pair is trading above its 20 Hr moving average and well above its 50 Hr moving average.<\/p>\n

Forex Daily Market Commentary<\/strong><\/em> provided by<\/em><\/strong> GCI Financial Ltd<\/strong><\/a>.<\/strong><\/span><\/p>\n

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

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":"

Crude futures closed above $102 a barrel Wednesday, after an unexpected decline in last week\u2019s US oil inventories and continuing political turmoil in the Middle East raised concerns about global supplies.<\/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-19903","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19903","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=19903"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19903\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}