Crude Oil Movement
Oil prices advanced 1.49% against the USD for the 24 hour period ending 23:00GMT, closing at 101.13, buoyed by positive US and Chinese economic data and as Saudi Arabia indicated that it is likely to keep prices high at around $100 per barrel.
In the Asian session, at GMT0400, Crude Oil is trading at 101.32, 0.19% higher from yesterday’s close.
Crude oil is expected to find support at 100.10, and a fall through could take it to the next support level of 98.88. Crude oil is expected to find its first resistance at 101.94, and a rise through could take it to the next resistance level of 102.56.
Crude Oil is trading above its 20 Hr and its 50 Hr moving averages.
