Crude Oil Movement
Crude Oil prices advanced 1.43% against the USD for the 24 hour period ending 23:00GMT, closing at 98.20, on speculation that demand for oil might rise from its largest consumer, the US, after the Federal Reserve took steps to boost the economy.
In the Asian session, at GMT0300, Crude Oil is trading at 98.94, 0.75% higher from yesterday’s close.
Crude oil is expected to find support at 97.25, and a fall through could take it to the next support level of 95.57. Crude oil is expected to find its first resistance at 99.88, and a rise through could take it to the next resistance level of 100.83.
Crude oil is trading above its 20 Hr and 50 Hr moving average.
