Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 1.84% against the USD and closed at USD63.48 per barrel, as a broad sell-off in global financial markets dented investor sentiment.
In the Asian session, at GMT0400, the pair is trading at 63.44, with oil trading 0.06% lower against the USD from yesterday’s close.
The pair is expected to find support at 62.69, and a fall through could take it to the next support level of 61.93. The pair is expected to find its first resistance at 64.80, and a rise through could take it to the next resistance level of 66.15.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
