Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.74% against the USD and closed at USD73.98 per barrel.
In the Asian session, at GMT0300, the pair is trading at 74.56, with oil trading 0.78% higher against the USD from yesterday’s close, after Libya announced force majeure on some of its supplies.
The pair is expected to find support at 73.51, and a fall through could take it to the next support level of 72.45. The pair is expected to find its first resistance at 75.22, and a rise through could take it to the next resistance level of 75.87.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
