Crude Oil Movement
Oil prices advanced 0.20% against the USD for the 24 hour period ending 23:00GMT, closing at 86.28, after EIA report showed that crude oil inventories declined last week.
In the Asian session, at GMT0300, Crude Oil is trading at 86.52, 0.28% higher from yesterday’s close.
Crude oil is expected to find support at 84.77, and a fall through could take it to the next support level of 83.01. Crude oil is expected to find its first resistance at 87.61, and a rise through could take it to the next resistance level of 88.69.
Crude oil is trading between its 20 Hr and 50 Hr moving averages.
