Crude Oil Movement
Crude Oil prices advanced 1.33% against the USD for the 24 hour period ending 23:00GMT, closing at 60.17, as hopes of resolution between Greece and its creditors brightened ahead of its meeting scheduled later in the week.
In the Asian session, at GMT0300, the pair is trading at 60.12, with the oil trading 0.08% 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 58.64. The pair is expected to find its first resistance at 60.74, and a rise through could take it to the next resistance level of 61.36.
Crude oil is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
