Crude Oil Movement
On Friday, Crude Oil prices advanced 1.44% against the USD, closing at 93.71, after the Organization of Petroleum Exporting Countries (OPEC) indicated that it would reduce oil shipments over the next few weeks.
In the Asian session, at GMT0400, Crude Oil is trading at 94.10, 0.42% higher from Friday’s close.
Crude oil is expected to find support at 92.91, and a fall through could take it to the next support level of 91.71. 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 95.33.
Crude Oil is trading above its 20 Hr and 50 Hr moving averages.
