Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 5.64% against the USD and closed at USD57.31 per barrel, amid rising geopolitical tensions, after Iran shot down a US military drone.
In the Asian session, at GMT0300, the pair is trading at 57.37, with oil trading 0.10% higher against the USD from yesterday’s close.
The pair is expected to find support at 55.24, and a fall through could take it to the next support level of 53.12. The pair is expected to find its first resistance at 58.64, and a rise through could take it to the next resistance level of 59.92.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
