For the 24 hours to 23:00 GMT, Crude Oil rose 0.37% against the USD and closed at USD57.17 per barrel, on OPEC-led supply cuts.
In the Asian session, at GMT0400, the pair is trading at 57.40, with oil trading 0.40% higher against the USD from yesterday’s close.
The pair is expected to find support at 56.69, and a fall through could take it to the next support level of 55.98. The pair is expected to find its first resistance at 57.85, and a rise through could take it to the next resistance level of 58.3.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.