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Categorized | Forex News

Crude Oil: Trading lower

Posted on29 May 2012. Tags: , , ,

Crude Oil

Crude Oil Movement

Oil prices declined 0.11% against the USD for the 24 hour period ending 23:00GMT, closing at 91.22.

In the Asian session, at GMT0300, Crude Oil is trading at 91.19, marginally lower from yesterday’s close.

Crude oil is expected to find support at 90.70, and a fall through could take it to the next support level of 90.22. Crude oil is expected to find its first resistance at 91.83, and a rise through could take it to the next resistance level of 92.48.

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