Crude Oil Movement
On Friday, Crude Oil prices declined 0.31% against the USD for the 24 hour period ending 24:00GMT, closing at 93.77, as growing inflation pressure in China dampened hopes for a fresh stimulus and amid a wider-than-expected trade deficit recorded in the US in November.
In the Asian session, at GMT0400, Crude Oil is trading at 94.15, 0.41% higher from Friday’s close.
Crude Oil is expected to find support at 93.11, and a fall through could take it to the next support level of 92.08. Crude Oil is expected to find its first resistance at 94.72, and a rise through could take it to the next resistance level of 95.30.
Crude Oil is trading above its 20 Hr and 50 Hr moving average.
