Crude Oil Movement
Crude Oil prices advanced 1.36% against the USD for the 24 hour period ending 23:00GMT, closing at 96.82, on hopes of recovery in the US economy following upbeat US macro economic data.
In the Asian session, at GMT0300, Crude Oil is trading at 97.21, 0.40% higher from yesterday’s close.
Crude oil is expected to find support at 95.99, and a fall through could take it to the next support level of 94.77. Crude oil is expected to find its first resistance at 97.92, and a rise through could take it to the next resistance level of 98.63.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
