Crude Oil Movement
Crude Oil prices advanced 0.56% against the USD for the 24 hour period ending 23:00GMT, closing at 100.85, as harsh winter conditions in the US bolstered the demand-outlook of the commodity in the nation.
In the Asian session, at GMT0400, Crude Oil is trading at 100.73, 0.12% lower from yesterday’s close.
Crude oil is expected to find support at 100.41, and a fall through could take it to the next support level of 100.09. Crude oil is expected to find its first resistance at 101.09, and a rise through could take it to the next resistance level of 101.45.
Crude oil is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
