Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.05% against the USD and closed at USD56.83 per barrel, as US-China trade tensions fuelled worries over energy demand.
In the Asian session, at GMT0400, the pair is trading at 56.87, with oil trading 0.07% higher against the USD from yesterday’s close.
The pair is expected to find support at 56.30, and a fall through could take it to the next support level of 55.74. The pair is expected to find its first resistance at 57.38, and a rise through could take it to the next resistance level of 57.90.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.
