Crude Oil Movement
On Friday, Crude Oil prices advanced 0.57% against the USD for the period ending 21:00GMT, closing at 107.67.
In the Asian session, at GMT0300, Crude Oil is trading at 105.99, 1.56% lower from Friday’s close, as US President, Barack Obama, indicated earlier that authorization would be taken from the Congress before ordering military action against Syria, thereby easing investor concern over supply disruptions in the Middle East.
Crude oil is expected to find support at 103.88, and a fall through could take it to the next support level of 101.78. Crude oil is expected to find its first resistance at 108.42, and a rise through could take it to the next resistance level of 110.86.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
