Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.51% against the USD and closed at USD60.58 per barrel, despite reports indicating that a recent deal to curtail global output by OPEC and its allies may be eased.
In the Asian session, at GMT0400, the pair is trading at 60.50, with oil trading 0.13% lower against the USD from yesterday’s close.
The pair is expected to find support at 60.14, and a fall through could take it to the next support level of 59.79. The pair is expected to find its first resistance at 60.81, and a rise through could take it to the next resistance level of 61.13.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.
