Crude Oil Movement
On Friday, Oil prices declined 0.50% against the USD for the 24 hour period ending 23:00GMT, closing at 83.99.
In the Asian session, at GMT0300, Crude Oil is trading at 84.85, 1.02% higher from Friday’s close, after Greece’s pro-austerity parties won a tight general election, easing concerns of a Greece exit from the Euro-zone.,
Crude oil is expected to find support at 83.66, and a fall through could take it to the next support level of 82.47. Crude oil is expected to find its first resistance at 85.80, and a rise through could take it to the next resistance level of 86.74.
Crude oil is trading above with its 20 Hr and 50 Hr moving averages.
