Crude Oil Movement
Crude Oil prices declined 0.25% against the USD for the 24 hour period ending 23:00GMT, closing at 100.06.
An industry report showed that oil production from the Organization of the Petroleum Exporting Countries (OPEC) edged higher in January by 150,000 barrels per day to 29.87 million barrels per day.
In the Asian session, at GMT0400, Crude Oil is trading at 100.07, tad higher from yesterday’s close.
Crude oil is expected to find support at 99.27, and a fall through could take it to the next support level of 98.47. Crude oil is expected to find its first resistance at 100.71, and a rise through could take it to the next resistance level of 101.35.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
