Crude Oil Movement
Oil prices declined 0.61% against the USD for the 24 hour period ending 23:00GMT, closing at 94.68, ahead of a keenly anticipated speech by Federal Reserve Chief, Ben Bernanke.
In the Asian session, at GMT0300, Crude Oil is trading at 94.68, flat from yesterday’s close.
Crude oil is expected to find support at 93.89, and a fall through could take it to the next support level of 93.09. Crude oil is expected to find its first resistance at 95.54, and a rise through could take it to the next resistance level of 96.39.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
