Crude Oil Movement
Crude Oil prices advanced 0.08% against the USD for the 24 hour period ending 23:00GMT, closing at 95.83, as supply concerns rose after tensions in a number of major oil producing countries continued to remain on the rise.
In the Asian session, at GMT0300, the pair is trading at 95.85, with the crude oil trading tad higher from yesterday’s close.
The pair is expected to find support at 95.6167, and a fall through could take it to the next support level of 95.3833. The pair is expected to find its first resistance at 95.9867, and a rise through could take it to the next resistance level of 96.1233.
Crude oil is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
