Crude Oil Movement
On Friday, Crude Oil prices advanced 1.47% against the USD for the 24 hour period ending 24:00GMT, closing at 88.94.
In the Asian session, at GMT0400, Crude Oil is trading at 89.20, 0.29% higher from Friday’s close, as encouraging Chinese manufacturing and service-sector data raised hopes for an increase in oil demand.
Crude Oil is expected to find support at 88.12, and a fall through could take it to the next support level of 87.04. Crude oil is expected to find its first resistance at 89.79, and a rise through could take it to the next resistance level of 90.38.
Crude Oil is trading above its 20 Hr and 50 Hr moving averages.
