Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.35% against the USD and closed at USD42.82 per barrel, reversing a three-session losing streak.
In the Asian session, at GMT0300, the pair is trading at 42.84, with the oil trading a tad higher against the USD from yesterday’s close.
The pair is expected to find support at 42.29, and a fall through could take it to the next support level of 41.75. The pair is expected to find its first resistance at 43.35, and a rise through could take it to the next resistance level of 43.87.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.
