For the 24 hours to 23:00 GMT, Crude Oil declined 0.13% against the USD and closed at USD63.50 per barrel, amid speculation that Russia and the OPEC might step back from their move on productions cuts.
In the Asian session, at GMT0300, the pair is trading at 63.32, with oil trading 0.28% lower against the USD from yesterday’s close.
The pair is expected to find support at 62.98, and a fall through could take it to the next support level of 62.63. The pair is expected to find its first resistance at 63.72, and a rise through could take it to the next resistance level of 64.11.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.