Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.65% against the USD and closed at USD56.89 per barrel, amid global growth concerns.
In the Asian session, at GMT0300, the pair is trading at 56.71, with oil trading 0.32% lower against the USD from yesterday’s close.
The pair is expected to find support at 56.37, and a fall through could take it to the next support level of 56.04. The pair is expected to find its first resistance at 57.14, and a rise through could take it to the next resistance level of 57.58.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
