For the 24 hours to 23:00 GMT, Crude Oil rose 0.82% against the USD and closed at USD53.88 per barrel, amid hopes of US-China trade deal.
In the Asian session, at GMT0300, the pair is trading at 54.02, with oil trading 0.26% higher against the USD from yesterday’s close.
The pair is expected to find support at 53.19, and a fall through could take it to the next support level of 52.35. The pair is expected to find its first resistance at 55.06, and a rise through could take it to the next resistance level of 56.09.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
