Crude Oil Movement
Crude Oil prices advanced 0.25% against the USD for the 24 hour period ending 23:00GMT, closing at 97.44, as upbeat US economic data indicated resurgent demand in the world’s biggest economy.
In the Asian session, at GMT0400, Crude Oil is trading at 97.43, tad lower from yesterday’s close.
Crude oil is expected to find support at 97.02, and a fall through could take it to the next support level of 96.62. Crude oil is expected to find its first resistance at 97.91, and a rise through could take it to the next resistance level of 98.40.
Crude oil is showing convergence with both its 20 Hr and 50 Hr moving averages.
