For the 24 hours to 23:00 GMT, Crude Oil rose 3.08% against the USD and closed at 33.85, buoyed by Saudi Arabia’s pledge to limit market volatility by freezing output at January levels.
In the Asian session, at GMT0400, the pair is trading at 33.83, with the oil trading 0.06% lower from yesterday’s close.
The pair is expected to find support at 32.76, and a fall through could take it to the next support level of 31.68. The pair is expected to find its first resistance at 34.47, and a rise through could take it to the next resistance level of 35.10.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.