Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 1.34% against the USD and closed at USD73.30 per barrel, amid worries over Iran sanctions.
In the Asian session, at GMT0300, the pair is trading at 73.25, with oil trading 0.07% lower from against the USD yesterday’s close.
The pair is expected to find support at 72.29, and a fall through could take it to the next support level of 71.33. The pair is expected to find its first resistance at 74.12, and a rise through could take it to the next resistance level of 74.99.
Crude oil is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
