For the 24 hours to 23:00 GMT, Crude Oil declined 3.03% against the USD and closed at USD50.97 per barrel, amid worries over a slowdown in global oil demand.

In the Asian session, at GMT0400, the pair is trading at 51.16, with oil trading 0.37% higher against the USD from yesterday’s close.

The pair is expected to find support at 50.22, and a fall through could take it to the next support level of 49.29. The pair is expected to find its first resistance at 52.40, and a rise through could take it to the next resistance level of 53.65.

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Crude oil is trading below its 20 Hr and 50 Hr moving averages.

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