Crude Oil Movement
On Friday, Crude Oil prices declined 0.53% against the USD for the period ending 21:00GMT, closing at 97.47, as the greenback strengthened.
In the Asian session, at GMT0400, Crude Oil is trading at 97.11, 0.37% lower from Friday’s close, as the latest batch of economic data from China spurred fresh concerns on the demand-outlook of the commodity from the nation, known as the second-largest consumer of crude oil in the world.
Crude oil is expected to find support at 96.46, and a fall through could take it to the next support level of 95.82. Crude oil is expected to find its first resistance at 98.07, and a rise through could take it to the next resistance level of 99.04.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
