Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.33% against the USD and closed at 33.05, extending its previous session gains, after Baker Hughes report showed that the US oil rig count fell by 13 to a level of 400 in the week ended 26 February, its lowest tally since 2009.
In the Asian session, at GMT0400, the pair is trading at 32.90, with the oil trading 1.56% lower from Friday’s close.
The pair is expected to find support at 32.08, and a fall through could take it to the next support level of 31.27. The pair is expected to find its first resistance at 34.20, and a rise through could take it to the next resistance level of 35.51.
Crude oil is trading between its 20 Hr and 50 Hr moving averages.
