Crude Oil Movement
Crude Oil prices advanced 2.75% against the USD for the 24 hour period ending 23:00GMT, closing at 44.80.
In the Asian session, at GMT0300, the pair is trading at 44.54, with crude oil trading 0.58% lower from yesterday’s close, as gains in the Dollar decreased the demand for the commodity as an alternative investment.
The pair is expected to find support at 43.71, and a fall through could take it to the next support level of 42.89. The pair is expected to find its first resistance at 45.18, and a rise through could take it to the next resistance level of 45.83.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
