Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.35% against the USD and closed at USD59.58 per barrel, as tensions in the Middle East subsided.
In the Asian session, at GMT0400, the pair is trading at 59.37, with oil trading 0.35% lower against the USD from yesterday’s close.
The pair is expected to find support at 58.63, and a fall through could take it to the next support level of 57.90. The pair is expected to find its first resistance at 60.13, and a rise through could take it to the next resistance level of 60.90.
Crude oil is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
