Crude Oil Movement
Crude Oil prices declined 1.19% against the USD for the 24-hour period ending 23:00GMT, closing at 48.91, reversing its previous session gains.
In the Asian session, at GMT0300, the pair is trading at 48.86, with the oil trading 0.1% lower from yesterday’s close.
The pair is expected to find support at 48.37, and a fall through could take it to the next support level of 47.89. The pair is expected to find its first resistance at 49.72, and a rise through could take it to the next resistance level of 50.59.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
