Crude Oil Movement
On Friday, Oil prices advanced 0.88% against the USD for the 24 hour period ending 23:00GMT, closing at 90.08.
In the Asian session, at GMT0300, Crude Oil is trading at 90.15, 0.08% higher from Friday’s close, on hopes that the US and Europe would this week announce new measures to shore up their fragile economies, boosting the outlook for oil demand.
Crude oil is expected to find support at 89.48, and a fall through could take it to the next support level of 88.80. Crude oil is expected to find its first resistance at 90.64, and a rise through could take it to the next resistance level of 91.12.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
