Crude Oil Movement
Oil prices declined 0.32% against the USD, on Friday, for the 24 hour period ending 23:00GMT, closing at 96.48, as strong US dollar value and a decline in the US equities added pressure on crude oil prices.
In the Asian session, at GMT0400, Crude Oil is trading at 98.18, 1.76% higher from Friday’s close.
Crude oil is expected to find support at 95.93, and a fall through could take it to the next support level of 93.69. Crude oil is expected to find its first resistance at 99.48, and a rise through could take it to the next resistance level of 100.79.
Crude Oil is trading well above its 20 Hr and 50 Hr moving averages.
