Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.2% against the USD and closed at USD44.93 per barrel, extending its previous session gains as a fall in weekly US crude production eased some concerns over global supply glut.
In the Asian session, at GMT0300, the pair is trading at 45.18, with the oil trading 0.56% higher against the USD from yesterday’s close.
The pair is expected to find support at 44.74, and a fall through could take it to the next support level of 44.29. The pair is expected to find its first resistance at 45.54, and a rise through could take it to the next resistance level of 45.89.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
