Crude Oil Movement
Crude Oil prices declined 2.80% against the USD for the 24 hour period ending 23:00GMT, closing at 36.77, with global supply glut concerns continue to weigh on the commodity’s price.
In the Asian session, at GMT0400, the pair is trading at 36.84, with the oil trading 0.19% higher from yesterday’s close.
The pair is expected to find support at 36.34, and a fall through could take it to the next support level of 35.83. The pair is expected to find its first resistance at 37.61, and a rise through could take it to the next resistance level of 38.37.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
