Crude Oil Movement
On Friday, Crude Oil prices advanced 0.78% against the USD for the period ending 21:00GMT, closing at 59.46, after the number of US rigs actively drilling oil dropped by 24 to 679, its lowest level since September 2010.
In the Asian session, at GMT0300, the pair is trading at 59.25, with the oil trading 0.35% lower from Friday’s close.
The pair is expected to find support at 58.29, and a fall through could take it to the next support level of 57.33. The pair is expected to find its first resistance at 60.05, and a rise through could take it to the next resistance level of 60.85.
Crude oil is trading between its 20 Hr and 50 Hr moving averages.
