Crude Oil Movement
Crude Oil prices advanced 0.85% against the USD for the 24 hour period ending 23:00GMT, closing at 94.56, amid supply concerns on the recent developments in Eastern Ukraine. Additionally, encouraging data from the US economy improved the demand outlook for the commodity.
In the Asian session, at GMT0300, Crude Oil is trading at 94.65, 0.1% higher from yesterday’s close.
Crude oil is expected to find support at 93.83, and a fall through could take it to the next support level of 93.01. Crude oil is expected to find its first resistance at 95.09, and a rise through could take it to the next resistance level of 95.53.
Crude oil is trading above its 20 Hr and 50 Hr moving average.
