For the 24 hours to 23:00 GMT, Crude Oil rose 4.93% against the USD and closed at USD31.91 per barrel, despite oil price war.
In the Asian session, at GMT0400, the pair is trading at 33.27, with oil trading 4.26% higher against the USD from yesterday’s close, amid hopes of recovery in oil prices.
The pair is expected to find support at 28.78, and a fall through could take it to the next support level of 24.29. The pair is expected to find its first resistance at 36.32, and a rise through could take it to the next resistance level of 39.37.
Crude oil is trading between its 20 Hr and 50 Hr moving averages.
