Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 2.21% against the USD and closed at USD44.69, amid renewed supply glut concerns.
In the Asian session, at GMT0400, the pair is trading at 44.79, with the oil trading 0.22% higher from yesterday’s close.
The pair is expected to find support at 44.15, and a fall through could take it to the next support level of 43.50. The pair is expected to find its first resistance at 45.66, and a rise through could take it to the next resistance level of 46.52.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
