Crude Oil Movement
Crude Oil prices advanced 0.24% against the USD for the 24 hour period ending 23:00GMT, closing at 102.35.
In the Asian session, at GMT0300, Crude Oil is trading at 102.00, 0.34% lower from yesterday’s close, as looming tensions over the US budget talks and a downbeat rise in China’s NBS manufacturing PMI weighed on the demand prospect of the commodity.
Crude oil is expected to find support at 101.11, and a fall through could take it to the next support level of 100.23. Crude oil is expected to find its first resistance at 102.82, and a rise through could take it to the next resistance level of 103.65.
Crude oil is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
