Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.11% against the USD and closed at USD71.60 per barrel, lifted by persistent concerns over potential disruption to global crude supplies.
In the Asian session, at GMT0300, the pair is trading at 71.64, with oil trading 0.06% higher against the USD from yesterday’s close.
The pair is expected to find support at 71.05, and a fall through could take it to the next support level of 70.47. The pair is expected to find its first resistance at 72.26, and a rise through could take it to the next resistance level of 72.89.
Crude oil is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
