Crude Oil Movement
Crude Oil prices advanced 2.57% against the USD for the 24 hour period ending 23:00GMT, closing at 107.84, as upbeat manufacturing data in China, Europe and the US raised demand prospects. Moreover, as decline in US jobless claims further supported prices.
In the Asian session, at GMT0300, Crude Oil is trading at 108.62, 0.72% higher from yesterday’s close.
Crude oil is expected to find support at 106.35, and a fall through could take it to the next support level of 104.07. Crude oil is expected to find its first resistance at 109.86, and a rise through could take it to the next resistance level of 111.09.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
