Crude Oil Movement
On Friday, Crude Oil prices advanced 0.28% against the USD for the period ending 21:00GMT, closing at 107.46, as escalating tensions in Egypt and Libya raised worries over oil supply.
In the Asian session, at GMT0300, Crude Oil is trading at 107.40, marginally lower from Friday’s close.
Crude oil is expected to find support at 106.58, and a fall through could take it to the next support level of 105.77. Crude oil is expected to find its first resistance at 108.19, and a rise through could take it to the next resistance level of 108.99.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.
