Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 1.37% against the USD and closed at USD 53.18, surrendering its previous session gains.
In the Asian session, at GMT0400, the pair is trading at 53.19, with the oil trading marginally higher from yesterday’s close.
The pair is expected to find support at 52.69, and a fall through could take it to the next support level of 52.19. The pair is expected to find its first resistance at 53.91, and a rise through could take it to the next resistance level of 54.63.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
