Crude Oil Movement
Crude Oil prices advanced 4.04% against the USD for the 24 hour period ending 23:00GMT, closing at 51.24, amid a broad weakening in the US Dollar.
Oil prices were also supported, after Russia and Ukraine agreed to a ceasefire, following months of violence.
In the Asian session, at GMT0400, the pair is trading at 51.58, with the oil trading 0.66% higher from yesterday’s close.
The pair is expected to find support at 49.95, and a fall through could take it to the next support level of 48.33. The pair is expected to find its first resistance at 52.46, and a rise through could take it to the next resistance level of 53.35.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
