Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.33% against the USD and closed at USD58.20 per barrel. However, gains in the crude prices were limited, after news emerged that Britain’s Forties pipeline in the North Sea would restart operations in early January 2018.
In the Asian session, at GMT0400, the pair is trading at 58.20, with oil trading flat against the USD from yesterday’s close.
The pair is expected to find support at 57.76, and a fall through could take it to the next support level of 57.32. The pair is expected to find its first resistance at 58.51, and a rise through could take it to the next resistance level of 58.82.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
