Crude Oil Movement
On Friday, Crude Oil prices declined 0.51% against the USD for the period ending 21:00GMT, closing at 94.79.
In the Asian session, at GMT0400, Crude Oil is trading at 94.00, 0.83% lower from Friday’s close, as concerns over the supply outlook of the commodity from the Middle East region eased after Iran reached an accord with the World powers to curb its nuclear work.
Crude oil is expected to find support at 93.24, and a fall through could take it to the next support level of 92.47. Crude oil is expected to find its first resistance at 95.17, and a rise through could take it to the next resistance level of 96.33.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
