Crude Oil Movement
Crude Oil prices declined 1.94% against the USD for the 24-hour period ending 23:00GMT, closing at 50.51, snapping a three-day rally.
In the Asian session, at GMT0300, the pair is trading at 50.44, with the oil trading 0.14% lower from yesterday’s close.
The pair is expected to find support at 49.90, and a fall through could take it to the next support level of 49.37. The pair is expected to find its first resistance at 51.30, and a rise through could take it to the next resistance level of 52.17.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
