Crude Oil Movement
Oil prices declined 0.59% against the USD for the 24 hour period ending 23:00GMT, closing at 92.72, on speculation that demand for oil might fell amid worries over the outlook for global economic growth.
Investors await the oil inventory reports later today and tomorrow to offer guidance to oil prices.
In the Asian session, at GMT0300, Crude Oil is trading at 92.79, 0.08% higher from yesterday’s close.
Crude oil is expected to find support at 91.85, and a fall through could take it to the next support level of 90.90. Crude oil is expected to find its first resistance at 93.94, and a rise through could take it to the next resistance level of 95.08.
Crude oil is trading just below its 20 Hr and 50 Hr moving averages.
