Crude oil Movement
On Friday, Oil prices advanced 0.56% against the USD for the 24 hour period ending 23:00GMT, closing at 91.32, on stronger-than-expected US consumer sentiment data, as well as on a lack of progress in Iranian nuclear talks.
A dispute between Iran and the West intensified over the weekend, after Tehran refused to permit the International Atomic Energy Agency (IAEA) from visiting a nuclear site which is suspected of being used to develop nuclear weapons.
In the Asian session, at GMT0300, Crude Oil is trading at 91.73, 0.45% higher from yesterday’s close.
Crude oil is expected to find support at 90.69, and a fall through could take it to the next support level of 89.65. Crude oil is expected to find its first resistance at 92.28, and a rise through could take it to the next resistance level of 92.83.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
