Crude Oil Movement
Crude Oil prices advanced 1.38% against the USD for the 24 hour period ending 23:00GMT, closing at 92.89, after the Energy Information Administration (EIA) reported that the US crude inventories fell by 4.3 million barrels in the week ended September 19, against an expected increase of 0.4 million barrels.
In the Asian session, at GMT0300, the pair is trading at 92.74, with the EUR trading 0.16% lower from yesterday’s close.
The pair is expected to find support at 91.47, and a fall through could take it to the next support level of 90.21. The pair is expected to find its first resistance at 93.65, and a rise through could take it to the next resistance level of 94.55.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
