Crude Oil Movement
Crude Oil prices advanced 0.17% against the USD for the 24 hour period ending 23:00GMT, closing at 101.40, after political concerns in Portugal eased and on hopes of improvement in the US economy.
In the Asian session, at GMT0300, Crude Oil is trading at 101.07, 0.33% lower from yesterday’s close.
Crude oil is expected to find support at 100.65, and a fall through could take it to the next support level of 100.23. Crude oil is expected to find its first resistance at 101.55, and a rise through could take it to the next resistance level of 102.03.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.
