Crude Oil Movement
Crude Oil prices declined 2.88% against the USD for the 24 hour period ending 23:00GMT, closing at 46.95, on supply glut concerns.
In the Asian session, at GMT0400, the pair is trading at 47.1, with the gold trading 0.32% higher from yesterday’s close.
The pair is expected to find support at 46.34, and a fall through could take it to the next support level of 45.59. The pair is expected to find its first resistance at 48.30, and a rise through could take it to the next resistance level of 49.51.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
