Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.34% against the USD and closed at USD67.83 per barrel, amid concerns of oversupply overshadowed worries over mounting tension between the US and Iran.
In the Asian session, at GMT0300, the pair is trading at 67.72, with oil trading 0.16% lower against the USD from yesterday’s close.
The pair is expected to find support at 67.08, and a fall through could take it to the next support level of 66.45. The pair is expected to find its first resistance at 68.83, and a rise through could take it to the next resistance level of 69.95.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
