Crude Oil Movement
Crude Oil prices declined 1.46% against the USD for the 24 hour period ending 23:00GMT, closing at 95.65, amid concerns of a further reduction in the US central bank stimulus.
In the Asian session, at GMT0400, Crude Oil is trading at 95.80, 0.16% higher from yesterday’s close.
Crude oil is expected to find support at 94.95, and a fall through could take it to the next support level of 94.09. Crude oil is expected to find its first resistance at 96.92, and a rise through could take it to the next resistance level of 98.03.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
