Crude Oil Movement
Crude Oil prices declined 0.91% against the USD for the 24 hour period ending 23:00GMT, closing at 66.79, extending its previous session losses, amid news reports that Saudi Arabia expected prices to stabilise around $60 per barrel.
In the Asian session, at GMT0400, the pair is trading at 66.53, with the oil trading 0.39% lower from yesterday’s close.
The pair is expected to find support at 65.67, and a fall through could take it to the next support level of 64.81. The pair is expected to find its first resistance at 67.80, and a rise through could take it to the next resistance level of 69.07.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
