Crude Oil Movement
Crude Oil prices declined 0.39% against the USD for the 24 hour period ending 23:00GMT, closing at 95.48, as concerns over global economic growth weighed on investor sentiment. Additionally, oil markets witnessed thin trading as US markets remained closed yesterday due to a public holiday.
In the Asian session, at GMT0400, Crude Oil is trading at 95.59, 0.12% higher from yesterday’s close.
Crude Oil is expected to find support at 95.23, and a fall through could take it to the next support level of 94.87. Crude oil is expected to find its first resistance at 95.97, and a rise through could take it to the next resistance level of 96.35.
Crude Oil is showing convergence its 20 Hr moving average and is trading just below its 50 Hr moving average.
