Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.88% against the USD and closed at USD65.24 per barrel, as a rally in US Dollar dented demand for the commodity.
In the Asian session, at GMT0400, the pair is trading at 65.39, with oil trading 0.23% higher against the USD from yesterday’s close.
The pair is expected to find support at 64.65, and a fall through could take it to the next support level of 63.90. The pair is expected to find its first resistance at 66.40, and a rise through could take it to the next resistance level of 67.40.
Crude oil is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
