Crude Oil Movement
On Friday, Crude Oil prices advanced 0.98% against the USD for the period ending 21:00GMT, closing at 78.63, as the USD lost ground after the US economy added fewer jobs in October than expected, despite a decline in unemployment rate. Oil prices also rose after news emerged that Russian troops having entered eastern Ukraine in strength.
In the Asian session, at GMT0400, the pair is trading at 78.89, with the oil trading 0.33% higher from Friday’s close.
The pair is expected to find support at 77.77, and a fall through could take it to the next support level of 76.65. The pair is expected to find its first resistance at 79.71, and a rise through could take it to the next resistance level of 80.53.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
