Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 1.22% against the USD and closed at USD65.53 per barrel, as investors were grappled with concerns over rising US crude production and amid strength in the greenback.
In the Asian session, at GMT0400, the pair is trading at 65.04, with oil trading 0.75% lower against the USD from yesterday’s close.
The pair is expected to find support at 64.54, and a fall through could take it to the next support level of 64.05. The pair is expected to find its first resistance at 65.97, and a rise through could take it to the next resistance level of 66.91.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
