Crude Oil Movement
On Friday, Crude Oil prices declined 1.68% against the USD for the period ending 21:00GMT, closing at 65.67, amid rising speculations that the US oil producers would challenge the OPEC for market share.
In the Asian session, at GMT0400, the pair is trading at 65.07, with the oil trading 0.91% lower from Friday’s close.
The pair is expected to find support at 64.17, and a fall through could take it to the next support level of 63.27. The pair is expected to find its first resistance at 66.43, and a rise through could take it to the next resistance level of 67.79.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
