Crude Oil Movement
Crude Oil prices advanced 0.43% against the USD for the 24 hour period ending 23:00GMT, closing at 95.52, after weaker-than-estimated US GDP data eased worries that the Federal Reserve would curb stimulus soon.
The Energy Information Administration indicated that crude stock piles in the US rose 18,000 barrels to 394.1 million barrels in the week ending June 21.
In the Asian session, at GMT0300, Crude Oil is trading at 96.02, 0.52% higher from yesterday’s close.
Crude oil is expected to find support at 94.42, and a fall through could take it to the next support level of 92.82. Crude oil is expected to find its first resistance at 96.88, and a rise through could take it to the next resistance level of 97.74.
Crude oil is trading just above its 20 Hr and 50 Hr moving averages.
