Crude Oil Movement
On Friday, Crude Oil prices declined 0.08% against the USD for the period ending 21:00GMT, closing at 59.62.
In the Asian session, at GMT0300, the pair is trading at 58.76, with the oil trading 1.44% lower from Friday’s close, amid rising concerns in Greece after its creditors rejected the nation’s bailout agreement beyond 30 June in its meeting held over the weekend, raising the possibility of Greece’s departure from the from the common-currency bloc.
The pair is expected to find support at 58.27, and a fall through could take it to the next support level of 57.78. The pair is expected to find its first resistance at 59.60, and a rise through could take it to the next resistance level of 60.44.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
