Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.25% against the USD and closed at USD57.02 per barrel, amid concerns over recent political developments in Saudi Arabia.
In the Asian session, at GMT0400, the pair is trading at 57.01, with the oil trading a tad lower against the USD from yesterday’s close.
The pair is expected to find support at 56.62, and a fall through could take it to the next support level of 56.24. The pair is expected to find its first resistance at 57.46, and a rise through could take it to the next resistance level of 57.92.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.
