Crude Oil Movement
On Friday, Crude Oil prices advanced 1.79% against the USD for the period ending 21:00GMT, closing at 103.22, as ongoing protests in Egypt increased concerns of disruptions in the oil supply.
In the Asian session, at GMT0300, Crude Oil is trading at 103.50, 0.27% higher from Friday’s close.
Crude oil is expected to find support at 101.56, and a fall through could take it to the next support level of 99.62. Crude oil is expected to find its first resistance at 104.78, and a rise through could take it to the next resistance level of 106.06.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
