Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.27% against the USD and closed at USD59.88 per barrel, amid global trade tensions.
In the Asian session, at GMT0400, the pair is trading at 59.87, with oil trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 59.56, and a fall through could take it to the next support level of 59.24. The pair is expected to find its first resistance at 60.29, and a rise through could take it to the next resistance level of 60.70.
Crude oil is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
