Crude Oil Movement
Crude Oil prices declined 0.30% against the USD for the 24 hour period ending 23:00GMT, closing at 59.58, as supply glut continued to hurt the commodity’s prices.
In the Asian session, at GMT0300, the pair is trading at 60.11, with the oil trading 0.89% higher from yesterday’s close.
The pair is expected to find support at 59.17, and a fall through could take it to the next support level of 58.23. The pair is expected to find its first resistance at 60.61, and a rise through could take it to the next resistance level of 61.11.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
