Nymex crude prices are holding firm in Asia this morning ahead of the outcome of the Greek PSI take up and US non-farm payroll data this afternoon. Yesterday saw prices pick up with optimism over Greece as talk that as much as 95% of bondholders will sign up to the debt swap. April WTI opened this morning at $106.58, after trading a $105.84-107.20 range yesterday, and has since pushed higher to $107.30 from earlier lows of $106.55. Prices are also holding firm on the back of equities and gold which both put in reasonable rallies yesterday and continue to hold gains this morning. Ice Brent is also firming in Asia this morning up to $125.83 from $125.27. WTI support today is now seen at $105.84 and $105.09 with resistance at $108.07 and $109.56. ICE Brent for April delivery has support at $124.77 and $124.11 with resistance up at $126.34 and $126.77.
EasyForexNews Research Team