Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.61% against the USD and closed at USD59.33 per barrel, ahead of the upcoming G-20 summit and amid ease in US-China trade tensions.
In the Asian session, at GMT0300, the pair is trading at 59.09, with oil trading 0.40% lower against the USD from yesterday’s close.
The pair is expected to find support at 58.56, and a fall through could take it to the next support level of 58.02. The pair is expected to find its first resistance at 59.68, and a rise through could take it to the next resistance level of 60.26.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.
