Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 1.01% against the USD and closed at USD60.95 per barrel, as rising US-China trade tensions fuelled concerns over global economic growth.
In the Asian session, at GMT0300, the pair is trading at 61.10, with oil trading 0.25% higher against the USD from yesterday’s close.
The pair is expected to find support at 60.05, and a fall through could take it to the next support level of 59.00. The pair is expected to find its first resistance at 62.74, and a rise through could take it to the next resistance level of 64.38.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.