Crude Oil Movement
On Friday, Crude Oil prices advanced 0.75% against the USD for the 24 hour period ending 23:00GMT, closing at 98.94, after the Federal Reserve vowed another round of stimulus to boost the economy, and as unrest in the Middle East and North Africa provided further support to oil prices.
In the Asian session, at GMT0300, Crude Oil is trading at 99.15, 0.21% higher from Friday’s close.
Crude oil is expected to find support at 98.29, and a fall through could take it to the next support level of 97.44. Crude oil is expected to find its first resistance at 100.21, and a rise through could take it to the next resistance level of 101.28.
Crude oil is trading between its 20 Hr and 50 Hr moving averages.
