Crude Oil Movement
Crude Oil prices advanced 0.46% against the USD for the 24 hour period ending 23:00GMT, closing at 102.80, as positive economic data from the US boosted the demand outlook of the commodity.
In the Asian session, at GMT0300, Crude Oil is trading at 102.71, 0.09% lower from yesterday’s close, as traders booked profits following the release of some decent US economic data.
Crude oil is expected to find support at 102.24, and a fall through could take it to the next support level of 101.78. Crude oil is expected to find its first resistance at 103.23, and a rise through could take it to the next resistance level of 103.76.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.
