Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 1.50% against the USD and closed at USD56.94 per barrel, amid persistent uncertainty surrounding the US-China trade deal.
In the Asian session, at GMT0400, the pair is trading at 56.89, with oil trading 0.09% lower against the USD from yesterday’s close.
The pair is expected to find support at 56.26, and a fall through could take it to the next support level of 55.64. The pair is expected to find its first resistance at 57.80, and a rise through could take it to the next resistance level of 58.72.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
