Crude Oil Movement
On Friday, Crude Oil prices declined 0.38% against the USD for the 24 hour period ending 24:00GMT, closing at 86.01.
In the Asian session, at GMT0400, Crude Oil is trading at 86.93, 1.07% higher from Friday’s close, as Syrian warplanes attacked a Palestinian refugee camp on the southern outskirts of the capital, Damascus on Sunday, thereby raising supply concerns.
Crude Oil is expected to find support at 86.24, and a fall through could take it to the next support level of 85.54. Crude Oil is expected to find its first resistance at 87.44, and a rise through could take it to the next resistance level of 87.94.
Crude Oil is trading above its 20 Hr and 50 Hr moving averages.
