Crude Oil Movement
Crude Oil prices declined 2.39% against the USD for the 24 hour period ending 23:00GMT, closing at 107.06, as fears of imminent military attack on Syria abated, thus easing concerns of supply disruptions from the Middle East.
In the Asian session, at GMT0300, Crude Oil is trading at 107.53, 0.44% higher from yesterday’s close.
Crude oil is expected to find support at 106.16, and a fall through could take it to the next support level of 104.80. Crude oil is expected to find its first resistance at 109.48, and a rise through could take it to the next resistance level of 111.44.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
