Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil slightly rose against the USD and closed at USD57.83 per barrel, on the back of rising US-Iran tensions.
In the Asian session, at GMT0300, the pair is trading at 57.36, with oil trading 0.81% lower against the USD from yesterday’s close, on demand concerns.
The pair is expected to find support at 56.67, and a fall through could take it to the next support level of 55.97. The pair is expected to find its first resistance at 58.14, and a rise through could take it to the next resistance level of 58.91.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.
