Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 2.33% against the USD and closed at 32.94, as investors focussed on an upcoming meeting of major oil producers to address the persistent global supply glut.
In the Asian session, at GMT0400, the pair is trading at 33, with the oil trading 0.18% higher from yesterday’s close.
The pair is expected to find support at 31.55, and a fall through could take it to the next support level of 30.1. The pair is expected to find its first resistance at 33.97, and a rise through could take it to the next resistance level of 34.94.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
