Crude Oil Movement
Crude Oil prices advanced 1.10% against the USD for the 24 hour period ending 23:00GMT, closing at 60.45, amid a broad weakness in the greenback that supported the dollar-denominated commodity.
In the Asian session, at GMT0300, the pair is trading at 60.37, with the oil trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 59.45, and a fall through could take it to the next support level of 58.53. The pair is expected to find its first resistance at 61.09, and a rise through could take it to the next resistance level of 61.81.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
