Crude Oil Movement
Crude Oil prices declined 0.99% against the USD for the 24 hour period ending 23:00GMT, closing at 92.10.
Yesterday Iranian President, Mahmoud Ahmadinejad, stated that the Iran does not take seriously Israeli threats of attack, but is prepared to defend itself citing Israel has “no roots” in the history of the Middle-East and would be “eliminated”.
In the Asian session, at GMT0300, Crude Oil is trading at 92.27, 0.18% higher from Yesterday’s close.
Crude oil is expected to find support at 91.42, and a fall through could take it to the next support level of 90.57. Crude oil is expected to find its first resistance at 92.76, and a rise through could take it to the next resistance level of 93.25.
Crude oil is trading between its 20 Hr and 50 Hr moving average.
