Crude Oil Movement
On Friday, Crude Oil prices declined 0.14% against the USD for the 24 hour period ending 23:00GMT, closing at 92.10, amid demand concerns following weak US manufacturing data.
In the Asian session, at GMT0300, Crude Oil is trading at 91.3, 0.87% lower from Friday’s close, after data showed that the manufacturing activity in China remained in the contraction territory in September.
Crude oil is expected to find support at 90.81, and a fall through could take it to the next support level of 90.32. Crude oil is expected to find its first resistance at 92.25, and a rise through could take it to the next resistance level of 93.20.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
