Crude Oil Movement
Crude Oil prices declined 0.91% against the USD for the 24 hour period ending 23:00GMT, closing at 59.67, as Greece and its creditors showed no signs of agreement over the nation’s debt deal, thus weighing on the demand growth prospects of the commodity from the Euro-zone.
In the Asian session, at GMT0300, the pair is trading at 59.66, with the oil trading a tad lower from yesterday’s close.
The pair is expected to find support at 59.24, and a fall through could take it to the next support level of 58.82. The pair is expected to find its first resistance at 60.27, and a rise through could take it to the next resistance level of 60.88.
Crude oil is trading below 20 Hr and 50 Hr moving averages.
