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Crude Oil: Oil Trading Extends Its Losses In The Asian Session

GCI Financial
By GCI Financial

For the 24 hours to 23:00 GMT, Crude Oil declined 0.56% against the USD and closed at USD74.14 per barrel.

In the Asian session, at GMT0300, the pair is trading at 73.88, with oil trading 0.35% lower against the USD from yesterday’s close, after the US President, Donald Trump demanded OPEC to reduce crude oil prices..

The pair is expected to find support at 73.36, and a fall through could take it to the next support level of 72.84. The pair is expected to find its first resistance at 74.54, and a rise through could take it to the next resistance level of 75.20.

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

GCI Financial
GCI Financialhttp://www.gcitrading.com/
DISCLAIMER : GCI's Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

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