Crude Oil Movement
Crude Oil prices declined 1.74% against the USD for the 24-hour period ending 23:00GMT, closing at 42.99, reversing its previous session gains.
In the Asian session, at GMT0300, the pair is trading at 42.92, with the oil trading 0.16% lower from yesterday’s close.
The pair is expected to find support at 42.32, and a fall through could take it to the next support level of 41.72. The pair is expected to find its first resistance at 43.78, and a rise through could take it to the next resistance level of 44.64.
Crude oil is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
