Crude Oil Movement
Crude Oil prices declined 0.55% against the USD for the 24 hour period ending 23:00GMT, closing at 93.60, for the fifth-straight trading session, amid easing supply-concerns from the Middle East region. However, a weakness in the US Dollar kept the commodity’s losses in check.
In the Asian session, at GMT0400, Crude Oil is trading at 93.60, flat from yesterday’s close.
Crude oil is expected to find support at 93.00, and a fall through could take it to the next support level of 92.41. Crude oil is expected to find its first resistance at 94.39, and a rise through could take it to the next resistance level of 95.19.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
