Crude Oil Movement
Crude Oil prices advanced 0.68% against the USD for the 24 hour period ending 23:00GMT, closing at 91.73, amid supply concerns due to North Sea oil production delays and tighter sanctions on Iran from the European Union.
In the Asian session, at GMT0300, Crude Oil is trading at 91.66, 0.08% lower from yesterday’s close.
Meanwhile, investors await the oil inventory reports later today and tomorrow to offer further guidance to oil prices.
Crude oil is expected to find support at 90.23, and a fall through could take it to the next support level of 88.81. Crude oil is expected to find its first resistance at 92.64, and a rise through could take it to the next resistance level of 93.63.
Crude oil is trading above its 20 Hr moving average and is trading above its 50 Hr moving average.
