Crude Oil Movement
Crude Oil prices declined 1.17% against the USD for the 24 hour period ending 23:00GMT, closing at 101.09, as concerns over the US impasses and Iran’s nuclear deal talks weighed on investors sentiment. In Geneva, Iran’s two-day meeting with the European Union opened yesterday, with speculation rising that an eventual end to the nuclear stalemate and an end to sanctions with Iran would weigh on oil prices.
In the Asian session, at GMT0300, Crude Oil is trading at 101.25, 0.16% higher from yesterday’s close.
Crude oil is expected to find support at 100.60, and a fall through could take it to the next support level of 99.94. Crude oil is expected to find its first resistance at 102.18, and a rise through could take it to the next resistance level of 103.10.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
