Crude Oil Movement
On Friday, Crude Oil prices advanced 2.14% against the USD for the period ending 21:00GMT, closing at 105.97, as prospects for the commodity improved following a rise in industrial production in China, the world’s second largest oil consumer.
In the Asian session, at GMT0300, Crude Oil is trading at 106.13, 0.15% higher from Friday’s close.
Crude oil is expected to find support at 104.42, and a fall through could take it to the next support level of 102.71. Crude oil is expected to find its first resistance at 107.04, and a rise through could take it to the next resistance level of 107.95.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
