Crude Oil Movement
On Friday, Crude Oil prices advanced 1.40% against the USD for the period ending 21:00GMT, closing at 95.88, after data showed that the US consumer sentiment rebounded sharply to a 7-year high in July, thus improving the demand outlook of the commodity from the world’s biggest consumer of oil.
In the Asian session, at GMT0300, the pair is trading at 95.77, with the EUR trading 0.11% lower from Friday’s close.
The pair is expected to find support at 94.9267, and a fall through could take it to the next support level of 94.0833. The pair is expected to find its first resistance at 96.3067, and a rise through could take it to the next resistance level of 96.8433.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
