Crude Oil Movement
On Friday, Crude Oil prices advanced 0.06% against the USD for the period ending 21:00GMT, closing at 100.32, buoyed by a weakness in the US Dollar. However, an unexpected fall in the US industrial and manufacturing data for January, kept the commodity’s gains in check.
In the Asian session, at GMT0400, Crude Oil is trading at 100.58, 0.26% higher from Friday’s close.
Crude oil is expected to find support at 99.66, and a fall through could take it to the next support level of 98.74. Crude oil is expected to find its first resistance at 101.27, and a rise through could take it to the next resistance level of 101.96.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
