Crude Oil Movement
Crude Oil prices declined 0.92% against the USD for the 24 hour period ending 23:00GMT, closing at 52.79, reversing its previous session gains.
Losses were kept in check, as supply concerns stoked following violence in Libya and uncertainty over exports from Kurdistan.
In the Asian session, at GMT0400, the pair is trading at 53.03, with the oil trading 0.45% higher from yesterday’s close.
The pair is expected to find support at 52.34, and a fall through could take it to the next support level of 51.65. The pair is expected to find its first resistance at 53.48, and a rise through could take it to the next resistance level of 53.93.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
