For the 24 hours to 23:00 GMT, Crude Oil rose 2.89% against the USD and closed at USD47.07 per barrel, reversing its four-session losing streak.
In the Asian session, at GMT0300, the pair is trading at 46.99, with the oil trading 0.17% lower against the USD from yesterday’s close.
The pair is expected to find support at 46.09, and a fall through could take it to the next support level of 45.19. The pair is expected to find its first resistance at 47.68, and a rise through could take it to the next resistance level of 48.37.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.