Crude Oil Movement
Crude Oil prices declined 2.12% against the USD for the 24-hour period ending 23:00GMT, closing at 48.45, amid a broad strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 48.63, with the oil trading 0.37% higher from yesterday’s close.
The pair is expected to find support at 48.00, and a fall through could take it to the next support level of 47.37. The pair is expected to find its first resistance at 49.43, and a rise through could take it to the next resistance level of 50.23.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
