For the 24 hours to 23:00 GMT, Crude Oil rose 1.45% against the USD and closed at USD53.13 per barrel, as an outage in Libya’s biggest oil field increased disruptions to global crude supplies.
In the Asian session, at GMT0300, the pair is trading at 53.07, with the oil trading 0.11% lower against the USD from yesterday’s close.
The pair is expected to find support at 52.52, and a fall through could take it to the next support level of 51.96. The pair is expected to find its first resistance at 53.43, and a rise through could take it to the next resistance level of 53.78.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.