Crude Oil Movement
Crude Oil prices advanced 0.73% against the USD for the 24 hour period ending 23:00GMT, closing at 82.75, after the Organization of the Petroleum Exporting Countries (OPEC) reported that it would maintain high output levels, despite increasing global crude supplies.
In the Asian session, at GMT0300, the pair is trading at 82.88, with the oil trading 0.16% higher from yesterday’s close.
The pair is expected to find support at 81.81, and a fall through could take it to the next support level of 80.75. The pair is expected to find its first resistance at 83.67, and a rise through could take it to the next resistance level of 84.47.
Crude oil is trading between its 20 Hr and 50 Hr moving averages.
