Weak unemployment data has hurt prices of spot crude oil as continued high unemployment numbers reduce future demand for crude oil. Also a strong dollar for part of the day's trading sapped momentum from the commodity's bullish run.
A short trading range for today's prices also indicates indecision on the part of crude oil traders as they await the outcome of today's U.S. non-farm employment change. A positive data release could send the price of the commodity to its next resistance level which rests at a price of $83.00, followed by $84.30. Spot crude oil prices failed to breach the $83 level on Tuesday. The next support levels rest at $81.50 followed by $80.