Crude Oil Movement
Crude Oil prices declined 0.41% against the USD for the 24 hour period ending 23:00GMT, closing at 103.75, on jitters over the outlook for US stimulus and on expectations that the North Sea supply will improve next month after maintenance.
In the Asian session, at GMT0300, Crude Oil is trading at 104.28, 0.51% higher from yesterday’s close.
Crude oil is expected to find support at 102.68, and a fall through could take it to the next support level of 101.08. Crude oil is expected to find its first resistance at 105.42, and a rise through could take it to the next resistance level of 106.56.
Crude oil is showing convergence with its 50 Hr moving average and is trading above its 20 Hr moving average.
