The price of crude oil has moved to a low of $97 on the news. The current prices trading backup at $98.60. US stocks are higher with the S&P up 70 points or 0.94% while the NASDAQ index is up 340 points or 1.31%.
The USD has moved to lower. The price of USDJPY has moved below the 100 hour moving average at $158.78 to test the low prices from the last two trading days near $158.60. Moving below those levels would have traders targeting the rising 100 hour moving average at 158.10..
This article was written by Greg Michalowski at investinglive.com.
