Crude Oil Movement
Crude Oil prices declined 0.88% against the USD for the 24 hour period ending 23:00GMT, closing at 58.26, as prospects of Greece’s Euro-exit prompted investors to move out of riskier assets.
Oil prices further came under pressure, as negotiations regarding the Iranian nuclear deal continued to weigh on the commodity.
In the Asian session, at GMT0300, the pair is trading at 57.98, with the oil trading 0.48% lower from yesterday’s close.
The pair is expected to find support at 57.52, and a fall through could take it to the next support level of 57.06. The pair is expected to find its first resistance at 58.85, and a rise through could take it to the next resistance level of 59.72.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
