Crude Oil Movement
On Friday, Oil prices advanced 1.37% against the USD for the 24 hour period ending 23:00GMT, closing at 87.06, following news that the Obama administration had expanded sanctions on Iran.
In the Asian session, at GMT0300, Crude Oil is trading at 86.71, 0.40% lower from Friday’s close.
Crude oil is expected to find support at 85.73, and a fall through could take it to the next support level of 84.75. Crude oil is expected to find its first resistance at 87.65, and a rise through could take it to the next resistance level of 88.59.
Crude oil is trading between its 20 Hr and 50 Hr moving averages.
