Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 1.59% against the USD and closed at USD50.65, reversing its previous session gains.
In the Asian session, at GMT0300, the pair is trading at 50.39, with the oil trading 0.51% lower from yesterday’s close.
The pair is expected to find support at 49.91, and a fall through could take it to the next support level of 49.43. The pair is expected to find its first resistance at 51.29, and a rise through could take it to the next resistance level of 52.19.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
