Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.58% against the USD and closed at USD43.09 per ounce on Friday, amid weakness in the US Dollar.
However, gains in crude prices were capped after Baker Hughes reported that the number of active US oil rigs climbed by 11 to 758 in the week ended 23 June.
In the Asian session, at GMT0300, the pair is trading at 43.46, with the oil trading 0.86% higher against the USD from Friday’s close.
The pair is expected to find support at 42.79, and a fall through could take it to the next support level of 42.13. The pair is expected to find its first resistance at 43.86, and a rise through could take it to the next resistance level of 44.27.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
