Crude Oil Movement
Crude Oil prices advanced 0.21% against the USD for the 24 hour period ending 23:00GMT, closing at 91.10, as an upbeat initial jobless claims data in the US raised the demand outlook of the commodity from the world’s biggest consumer of oil.
In the Asian session, at GMT0300, the pair is trading at 91.33, with the oil trading 0.25% higher from yesterday’s close.
The pair is expected to find support at 89.16, and a fall through could take it to the next support level of 86.99. The pair is expected to find its first resistance at 92.52, and a rise through could take it to the next resistance level of 93.71.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
