For the 24 hours to 23:00 GMT, Crude Oil declined 2.1% against the USD and closed at USD44.34 per barrel on Friday, after Baker Hughes disclosed that US active oil rigs advanced by 7 to 763 in the week to 07 July 2017.
In the Asian session, at GMT0300, the pair is trading at 44.64, with the oil trading 0.68% higher against the USD from Friday’s close.
The pair is expected to find support at 43.93, and a fall through could take it to the next support level of 43.21. The pair is expected to find its first resistance at 45.21, and a rise through could take it to the next resistance level of 45.77.
Crude oil is trading between its 20 Hr and 50 Hr moving averages.