Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 1.69% against the USD and closed at USD58.09 per barrel, as worries over the US-Iran tensions continued to fade.
In the Asian session, at GMT0400, the pair is trading at 58.12, with oil trading 0.05% higher against the USD from yesterday’s close.
The pair is expected to find support at 57.59, and a fall through could take it to the next support level of 57.07. The pair is expected to find its first resistance at 58.96, and a rise through could take it to the next resistance level of 59.79.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
