Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.81% against the USD and closed at USD45.93 per barrel, extending its previous session gains. Meanwhile, investors remain cautious ahead of next week’s meeting between major oil producers on stabilising oil market.
In the Asian session, at GMT0300, the pair is trading at 45.81, with the oil trading 0.26% lower from yesterday’s close.
The pair is expected to find support at 45.44, and a fall through could take it to the next support level of 45.07. The pair is expected to find its first resistance at 46.35, and a rise through could take it to the next resistance level of 46.89.
Crude oil is trading between its 20 Hr and 50 Hr moving averages.
