Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.95% against the USD and closed at USD56.50 per barrel, amid optimism over Sino-American trade resolution.
In the Asian session, at GMT0400, the pair is trading at 56.56, with oil trading 0.11% higher against the USD from yesterday’s close.
The pair is expected to find support at 55.78, and a fall through could take it to the next support level of 55.01. 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 58.21.
Crude oil is trading between its 20 Hr and 50 Hr moving averages.
