Crude Oil Movement
Crude Oil prices advanced 3.46% against the USD for the 24 hour period ending 23:00GMT, closing at 60.75, amid easing concerns of oversupply and continued concerns about violence in the Middle East.
In the Asian session, at GMT0300, the pair is trading at 60.57, with the oil trading 0.3% lower from yesterday’s close.
The pair is expected to find support at 59.38, and a fall through could take it to the next support level of 58.19. The pair is expected to find its first resistance at 61.35, and a rise through could take it to the next resistance level of 62.13.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
