Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.14% against the USD and closed at 34.68, reversing its previous session gains, as global supply glut concerns resurfaced.
In the Asian session, at GMT0400, the pair is trading at 34.78, with the oil trading 0.29% higher from yesterday’s close.
The pair is expected to find support at 34.21, and a fall through could take it to the next support level of 33.63. The pair is expected to find its first resistance at 35.34, and a rise through could take it to the next resistance level of 35.89.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
