Crude Oil Movement
Crude Oil prices advanced 1.56% against the USD for the 24 hour period ending 23:00GMT, closing at 95.21, after the International Energy Agency (IEA), in its monthly report, projected global oil demand to grow by 1.3 million barrels to 92.5 million barrels a day in 2014.
In the Asian session, at GMT0400, Crude Oil is trading at 95.37, 0.17% higher from yesterday’s close.
Crude oil is expected to find support at 94.45, and a fall through could take it to the next support level of 93.53. Crude oil is expected to find its first resistance at 95.89, and a rise through could take it to the next resistance level of 96.41.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
