Crude Oil Movement
Oil prices declined 0.28% against the USD, on Friday, for the 24 hour period ending 23:00GMT, closing at 99.60, as poor US Gross Domestic Product data raised doubts about oil demand.
In the Asian session, at GMT0400, Crude Oil is trading at 99.11, 0.49% lower from Friday’s close.
Crude oil is expected to find support at 98.50, and a fall through could take it to the next support level of 97.88. Crude oil is expected to find its first resistance at 100.18, and a rise through could take it to the next resistance level of 101.24.
Crude Oil is trading below its 20 Hr and 50 Hr moving averages.
