Crude Oil Movement
Oil prices declined 1.17% against the USD for the 24 hour period ending 23:00GMT, closing at 105.64, as concern over global fuel demand increased, following weak manufacturing data from China and Euro-zone.
In the Asian session, at GMT0400, Crude Oil is trading at 105.56, 0.08% lower from yesterday’s close.
Crude oil is expected to find support at 104.45, and a fall through could take it to the next support level of 103.34. Crude oil is expected to find its first resistance at 106.72, and a rise through could take it to the next resistance level of 107.88.
Crude oil is trading between its 20 Hr and 50 Hr moving averages.
