Crude Oil Movement
On Friday, Crude Oil prices declined 1.14% against the USD for the period ending 21:00GMT, closing at 93.49, after the US reported downbeat non-farm employment data in August, raising concerns of 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 93.24, with the oil trading 0.27% lower from Friday’s close.
The pair is expected to find support at 92.4033, and a fall through could take it to the next support level of 91.5667. The pair is expected to find its first resistance at 94.5333, and a rise through could take it to the next resistance level of 95.8267.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
