Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.67% against the USD and closed at 45.41, reversing earlier session losses, amid broad weakness in the greenback.
In the Asian session, at GMT0300, the pair is trading at 45.56, with the oil trading 0.33% higher from yesterday’s close.
The pair is expected to find support at 45.07, and a fall through could take it to the next support level of 44.59. The pair is expected to find its first resistance at 45.92, and a rise through could take it to the next resistance level of 46.29.
Crude oil is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
