Crude Oil Movement
On Friday, Crude Oil prices declined 0.27% against the USD for the period ending 21:00GMT, closing at 96.56, after economic data indicated an unexpected slowdown in the US business activity in June spurring demand concerns for the fuel.
In the Asian session, at GMT0300, Crude Oil is trading at 96.13, 0.45% lower from Friday’s close.
Crude oil is expected to find support at 95.53, and a fall through could take it to the next support level of 94.92. Crude oil is expected to find its first resistance at 97.28, and a rise through could take it to the next resistance level of 98.42.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
