Crude Oil Movement
Oil prices advanced 0.05% against the USD for the 24 hour period ending 23:00GMT, closing at 104.02, as strong pending US home sales and a falling US dollar lifted sentiment for the black gold.
In the Asian session, at GMT0300, Crude Oil is trading at 104.13, 0.11% higher from yesterday’s close.
Crude oil is expected to find support at 103.69, and a fall through could take it to the next support level of 103.24. Crude oil is expected to find its first resistance at 104.75, and a rise through could take it to the next resistance level of 105.36.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.
