Crude Oil Movement
On Friday, Crude Oil prices declined 1.22% against the USD for the 24 hour period ending 24:00GMT, closing at 90.68, as disappointing Chinese manufacturing data and record euro-zone unemployment figures raised demand concerns.
In the Asian session, at GMT0400, Crude Oil is trading at 90.55, 0.14% lower from Friday’s close.
Crude oil is expected to find support at 89.74, and a fall through could take it to the next support level of 88.92. Crude oil is expected to find its first resistance at 91.67, and a rise through could take it to the next resistance level of 92.78.
Crude Oil is trading below its 20 Hr and 50 Hr moving averages.
