Crude Oil Movement
Oil prices declined 0.23% against the USD for the 24 hour period ending 23:00GMT, closing at 102.57, as poor US jobs data renewed concerns about the US economic recovery.
In the Asian session, at GMT0300, Crude Oil is trading at 102.52, 0.05% lower from yesterday’s close.
Crude oil is expected to find support at 101.72, and a fall through could take it to the next support level of 100.93. Crude oil is expected to find its first resistance at 103.26, and a rise through could take it to the next resistance level of 104.01.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
