Crude Oil Movement
Crude Oil prices advanced 1.89% against the USD for the 24 hour period ending 23:00GMT, closing at 36.18.
However, the gains in oil prices were capped as investors turned their focus on the persistent global supply glut.
In the Asian session, at GMT0400, the pair is trading at 36.31, with the oil trading 0.36% higher from yesterday’s close.
The pair is expected to find support at 35.00, and a fall through could take it to the next support level of 33.68. The pair is expected to find its first resistance at 37.16, and a rise through could take it to the next resistance level of 38.02.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
