Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.98% against the USD and closed at USD51.56 per barrel.
In the Asian session, at GMT0300, the pair is trading at 51.57, with the oil trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 50.91, and a fall through could take it to the next support level of 50.24. The pair is expected to find its first resistance at 52.55, and a rise through could take it to the next resistance level of 53.52.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
