Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.09% against the USD and closed at USD46.10 per barrel, on reports that Saudi Arabia will curb crude output to some Asian buyers in July and deepen cuts to the US.
In the Asian session, at GMT0300, the pair is trading at 46.28, with the oil trading 0.39% higher against the USD from yesterday’s close.
The pair is expected to find support at 45.72, and a fall through could take it to the next support level of 45.17. The pair is expected to find its first resistance at 46.77, and a rise through could take it to the next resistance level of 47.27.
Crude oil is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
