Crude Oil Movement
Crude Oil prices advanced 0.18% against the USD for the 24 hour period ending 23:00GMT, closing at 45.39, albeit global supply glut concerns continue to deepen.
In the Asian session, at GMT0300, the pair is trading at 45.61, with the oil trading 0.48% higher from yesterday’s close.
The pair is expected to find support at 44.97, and a fall through could take it to the next support level of 44.33. The pair is expected to find its first resistance at 46.17, and a rise through could take it to the next resistance level of 46.73.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
