Crude Oil: Oil trading flat in the Asian session

Crude Oil

Crude Oil Movement

For the 24 hours to 23:00 GMT, Crude Oil rose 0.36% against the USD and closed at USD64.37 per barrel.

Meanwhile, the Energy Information Administration (EIA) report indicated that US crude oil stockpiles rose 7.03 million barrels to 456.6 million barrels in the week ended 05 April 2019.

In the Asian session, at GMT0300, the pair is trading at 64.37, with oil trading flat against the USD from yesterday’s close.

The pair is expected to find support at 64.05, and a fall through could take it to the next support level of 63.72. The pair is expected to find its first resistance at 64.70, and a rise through could take it to the next resistance level of 65.02.

Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.

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