Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.39% against the USD and closed at USD63.86 per barrel, amid optimism that OPEC could extend its production cut agreement beyond 2018.
In the Asian session, at GMT0400, the pair is trading at 63.93, with oil trading 0.11% higher against the USD from yesterday’s close.
The pair is expected to find support at 63.28, and a fall through could take it to the next support level of 62.62. The pair is expected to find its first resistance at 64.36, and a rise through could take it to the next resistance level of 64.78.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
