Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil traded flat against the USD and closed at USD48.01 per barrel.
In the Asian session, at GMT0400, the pair is trading at 47.89, with the oil trading 0.25% lower from yesterday’s close.
The pair is expected to find support at 47.71, and a fall through could take it to the next support level of 47.52. The pair is expected to find its first resistance at 48.17, and a rise through could take it to the next resistance level of 48.44.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.
