Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.32% against the USD and closed at USD 43.58 per barrel, falling for the third consecutive session, amid renewed global supply glut concerns.
In the Asian session, at GMT0300, the pair is trading at 43.67, with the oil trading 0.21% higher from yesterday’s close.
The pair is expected to find support at 43.17, and a fall through could take it to the next support level of 42.68. The pair is expected to find its first resistance at 44.25, and a rise through could take it to the next resistance level of 44.84.
Crude oil is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
