Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil traded flat against the USD and closed at USD52.50 per barrel.
In the Asian session, at GMT0400, the pair is trading at 52.66, with the oil trading 0.3% higher from yesterday’s close.
The pair is expected to find support at 52.09, and a fall through could take it to the next support level of 51.53. The pair is expected to find its first resistance at 53.37, and a rise through could take it to the next resistance level of 54.09.
Crude oil is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
