Crude Oil Movement
On Friday, Crude Oil prices declined 0.10% against the USD for the period ending 21:00GMT, closing at 108.55, as the latest batch of dismal economic releases from the US weighed on the demand prospect of the crude oil.
In the Asian session, at GMT0300, Crude Oil is trading at 107.27, 1.18% lower from Friday’s close.
Crude oil is expected to find support at 106.47, and a fall through could take it to the next support level of 105.68. Crude oil is expected to find its first resistance at 108.35, and a rise through could take it to the next resistance level of 109.44.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
