Crude Oil Movement
On Friday, Crude Oil prices declined 0.46% against the USD for the 24 hour period ending 24:00GMT, closing at 93.02, as downbeat economic data from the US and Canada dampened demand prospects for the fuel.
In the Asian session, at GMT0300, Crude Oil is trading at 92.79, 0.25% lower from Friday’s close.
Crude oil is expected to find support at 92.01, and a fall through could take it to the next support level of 91.24. Crude oil is expected to find its first resistance at 93.46, and a rise through could take it to the next resistance level of 94.14.
Crude oil is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
