Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.60% against the USD and closed at USD65.73 per barrel, after the Energy Information Administration (EIA) report indicated that US crude oil stockpiles rose by 5.5 million barrels to 460.6 million barrels in the week ended 19 April 2019, notching its highest level since October 2017.
In the Asian session, at GMT0300, the pair is trading at 65.73, with oil trading flat against the USD from yesterday’s close.
The pair is expected to find support at 65.37, and a fall through could take it to the next support level of 65.01. The pair is expected to find its first resistance at 66.26, and a rise through could take it to the next resistance level of 66.79.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
