Crude Oil Movement
Crude Oil prices declined 0.35% against the USD for the 24 hour period ending 23:00GMT, closing at 50.74 rebounding from its previous session losses.
In the Asian session, at GMT0300, the pair is trading at 50.75, with the oil trading marginally higher from yesterday’s close.
The pair is expected to find support at 50.15, and a fall through could take it to the next support level of 49.55. The pair is expected to find its first resistance at 51.71, and a rise through could take it to the next resistance level of 52.67.
The commodity is trading below its 20 Hr and 50 Hr moving averages.
