FXstreet.com (Barcelona) - Crude futures are on the rise over the European session, supported by positive expectations for the upcoming jobs data along with reduced inventories. The crude contract for July delivery has just recently broke sharply above $75.00 a barrel before consolidating slightly where it trades at $75.16.
The past two days saw crude price edging higher on an all-around improved market sentiment sending commodities higher. With important employment releases on deck, investors are betting on positive results and thus continued bull movements. What's more, both the EIA and API recently reported a higher-than-expected drop in crude oil stockpiles in the US, easing supply pressure that has plagued the commodity over recent weeks.
With slightly bullish tendencies, Oil N' Gold places the most immediate resistance points at $75.59 and later $76.56. On the downside, support is listed at $73.95 and then $72.98.
