Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.48% against the USD and closed at USD69.57 per barrel.
In the Asian session, at GMT0300, the pair is trading at 69.23, with oil trading 0.49% lower against the USD from yesterday’s close, after Saudi Arabia pledged to keep energy markets supplied.
The pair is expected to find support at 68.51, and a fall through could take it to the next support level of 67.79. The pair is expected to find its first resistance at 69.89, and a rise through could take it to the next resistance level of 70.56.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.
