Crude Oil Movement
Crude Oil prices advanced 1.83% against the USD for the 24 hour period ending 23:00GMT, closing at 104.65, amid concerns that the continuing geopolitical tensions in Ukraine, Gaza and Iraq would have a negative impact on oil supply from the respective regions, especially Russia.
In the Asian session, at GMT0300, Crude Oil is trading at 104.55, 0.10% lower from yesterday’s close.
Crude oil is expected to find support at 103.14, and a fall through could take it to the next support level of 101.72. Crude oil is expected to find its first resistance at 105.48, and a rise through could take it to the next resistance level of 106.40.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
