Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 2.94% against the USD and closed at USD43.55 per barrel, falling for the fourth consecutive session, as global supply glut concerns resurfaced.
Separately, In the Asian session, at GMT0300, the pair is trading at 43.57, with the oil trading a tad higher from yesterday’s close.
The pair is expected to find support at 42.69, and a fall through could take it to the next support level of 41.80. The pair is expected to find its first resistance at 44.77, and a rise through could take it to the next resistance level of 45.96.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
