Crude Oil Movement
Oil prices advanced 1.67% against the USD, on Friday, for the 24 hour period ending 23:00GMT, closing at 99.69, after European leaders, on Friday, agreed to boost the region’s rescue fund and tighten budget rules.
In the Asian session, at GMT0400, Crude Oil is trading at 99.31, 0.38% lower from Friday’s close.
Crude oil is expected to find support at 97.81, and a fall through could take it to the next support level of 96.31. Crude oil is expected to find its first resistance at 100.36, and a rise through could take it to the next resistance level of 101.41.
Crude Oil is trading just above its 20 Hr and 50 Hr moving averages.
