For the 24 hours to 23:00 GMT, Crude Oil declined 0.61% against the USD and closed at USD42.04 per barrel, amid concerns over fuel demand.
In the Asian session, at GMT0300, the pair is trading at 41.92, with oil trading 0.29% lower against the USD from yesterday’s close.
The pair is expected to find support at 41.47, and a fall through could take it to the next support level of 41.02. The pair is expected to find its first resistance at 42.51, and a rise through could take it to the next resistance level of 43.10.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.