Crude Oil Movement

Oil prices advanced marginally against the USD for the 24 hour period ending 23:00GMT, closing at 104.83.

Investors await the oil inventory reports later today and tomorrow to offer guidance to oil prices.

In the Asian session, at GMT0300, Crude Oil is trading at 104.79, 0.04% lower from yesterday’s close.

Crude oil is expected to find support at 104.06, and a fall through could take it to the next support level of 103.33. Crude oil is expected to find its first resistance at 105.34, and a rise through could take it to the next resistance level of 105.89.

Crude oil is trading above its 20 Hr and 50 Hr moving averages.