Crude Oil Movement
Crude Oil prices advanced 1.15% against the USD for the 24 hour period ending 23:00GMT, closing at 91.47, amid signs of improving employment outlook as decline in the US jobless claims fuelled hopes for a rise in oil demand.
In the Asian session, at GMT0400, Crude Oil is trading at 91.32, 0.16% lower from yesterday’s close.
Crude oil is expected to find support at 90.45, and a fall through could take it to the next support level of 89.58. Crude oil is expected to find its first resistance at 91.96, and a rise through could take it to the next resistance level of 92.60.
Crude oil is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
