Crude Oil Movement
Crude Oil prices declined 0.48% against the USD for the 24 hour period ending 23:00GMT, closing at 89.09, weighed down by persistent global economic health concerns. Oil prices also eased after TransCanada planned to restart its Keystone pipeline yesterday.
Meanwhile, investors await the oil inventory reports later today and tomorrow to offer further guidance to oil prices.
In the Asian session, at GMT0300, Crude Oil is trading at 88.87, 0.25% lower from yesterday’s close.
Crude oil is expected to find support at 87.78, and a fall through could take it to the next support level of 86.69. Crude oil is expected to find its first resistance at 90.38, and a rise through could take it to the next resistance level of 91.89.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
