Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.44% against the USD and closed at USD61.72 per barrel, amid mounting concerns over Sino-American trade war.
In the Asian session, at GMT0300, the pair is trading at 62.26, with oil trading 0.87% higher against the USD from yesterday’s close.
The pair is expected to find support at 61.29, and a fall through could take it to the next support level of 60.32. The pair is expected to find its first resistance at 62.86, and a rise through could take it to the next resistance level of 63.46.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.