Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 2.85% against the USD and closed at USD52.52 per barrel, pressured by strength in the US dollar.
In the Asian session, at GMT0400, the pair is trading at 52.72, with the oil trading 0.38% higher from yesterday’s close.
The pair is expected to find support at 51.47, and a fall through could take it to the next support level of 50.23. The pair is expected to find its first resistance at 54.60, and a rise through could take it to the next resistance level of 56.49.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
