For the 24 hours to 23:00 GMT, Crude Oil rose 1.88% against the USD and closed at USD65.99 per barrel, amid optimism over OPEC’s enduring efforts to rein-in global crude surplus.
In the Asian session, at GMT0400, the pair is trading at 66.10, with oil trading 0.17% higher against the USD from yesterday’s close.
The pair is expected to find support at 65.05, and a fall through could take it to the next support level of 64.01. The pair is expected to find its first resistance at 66.72, and a rise through could take it to the next resistance level of 67.35.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.