Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 2.43% against the USD and closed at 41.00, pressured by concerns over a supply glut.
In the Asian session, at GMT0300, the pair is trading at 41.07, with the oil trading 0.17% higher from yesterday’s close.
The pair is expected to find support at 40.61, and a fall through could take it to the next support level of 40.14. The pair is expected to find its first resistance at 41.88, and a rise through could take it to the next resistance level of 42.68.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
