Crude Oil Movement
On Friday, Crude Oil prices declined 1.11% against the USD for the period ending 21:00GMT, closing at 93.93, extending its previous losses after the Federal Reserve indicated that it might wind down its $85 billion bond purchase program later this year.
In the Asian session, at GMT0300, Crude Oil is trading at 93.47, 0.49% lower from Friday’s close.
Crude oil is expected to find support at 92.45, and a fall through could take it to the next support level of 91.42. Crude oil is expected to find its first resistance at 95.17, and a rise through could take it to the next resistance level of 96.86.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
