Crude Oil Movement
Crude Oil prices declined 1.09% against the USD for the 24 hour period ending 23:00GMT, closing at 106.05, as investors continued to cheer plans to avert a possible US military strike over Syria, which in turn eased supply concerns of the commodity from the Middle East region.
In the Asian session, at GMT0300, Crude Oil is trading at 105.89, 0.15% lower from yesterday’s close.
Crude oil is expected to find support at 105.07, and a fall through could take it to the next support level of 104.26. Crude oil is expected to find its first resistance at 107.35, and a rise through could take it to the next resistance level of 108.82.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
