Crude Oil Movement
Oil prices advanced 1.14% against the USD, on Friday, for the 24 hour period ending 23:00GMT, closing at 99.91, inching close to $100, as lower prices encouraged buyers back to the market.
At GMT 0300, Oil is trading at USD 99.10 per barrel in the Asian session, 0.81% lower from 23:00GMT, amid signs the economy is slowing in the US, the world’s biggest crude-consuming nation, and on concern Greece may default on its debt, stoking speculation fuel demand may weaken.
The pair has its first resistance at 100.77, followed by the next resistance at 102.45. On the other side, the first support is at 96.70, with the subsequent support at 94.31.
The pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
