Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.79% against the USD and closed at USD65.40 per barrel, amid hopes for US-China trade deal talks.
In the Asian session, at GMT0300, the pair is trading at 65.41, with oil trading slightly higher against the USD from yesterday’s close.
The pair is expected to find support at 64.93, and a fall through could take it to the next support level of 64.46. The pair is expected to find its first resistance at 65.70, and a rise through could take it to the next resistance level of 65.99.
Crude oil is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
