Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.12% against the USD and closed at USD51.98 per barrel.
In the Asian session, at GMT0400, the pair is trading at 51.68, with oil trading 0.58% lower against the USD from yesterday’s close, on lingering concerns over the economic impact of the coronavirus outbreak in China.
The pair is expected to find support at 51.37, and a fall through could take it to the next support level of 51.07. The pair is expected to find its first resistance at 52.16, and a rise through could take it to the next resistance level of 52.65.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
