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Oil moved lower in early dealing as the.........>

OIL
OIL: Oil moved lower in early dealing as the US-led missile strikes on Syria
were deemed to be a one off by a many & as some light profit taking ensued. WTI
last trades $0.60 softer at $66.80, while Brent trades $0.75 lower at $71.80.
- It is also worth noting that the latest Baker Hughes rig count data (released
Friday) showed an uptick in active US oil rigs.
- WTI bears now look for a close below hourly support levels ($66.58) to gain
breathing room and target Wednesday's hourly support ($65.68). The Bollinger
band top ($67.69) remains a concern for bulls and currently limits follow
through.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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