Crude Oil Movement
Crude Oil prices declined 1.01% against the USD for the 24 hour period ending 23:00GMT, closing at 86.81, after a ceasefire ended a week of cross-border violence between Israel and Palestinian militants, easing supply concerns.
In the Asian session, at GMT0400, Crude Oil is trading at 87.20, 0.45% higher from yesterday’s close.
Crude Oil is expected to find support at 86.74, and a fall through could take it to the next support level of 86.27. Crude Oil is expected to find its first resistance at 87.67, and a rise through could take it to the next resistance level of 88.13.
Crude Oil is showing convergence with its 20 Hr and 50 Hr moving averages.
