Crude Oil Movement
Oil prices advanced 0.45% against the USD for the 24 hour period ending 23:00GMT, closing at 89.29, on speculation that the demand for oil might rise after better-than-expected US durable goods and jobless claims data eased concern over slowing economic growth.
In the Asian session, at GMT0300, Crude Oil is trading at 89.57, 0.31% higher from yesterday’s close.
Crude oil is expected to find support at 88.27, and a fall through could take it to the next support level of 86.97. Crude oil is expected to find its first resistance at 90.67, and a rise through could take it to the next resistance level of 91.77.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
