Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 1.29% against the USD and closed at USD64.79 per barrel, after the American Petroleum Institute (API) reported that US crude oil inventories surprisingly advanced by 5.3 million barrels to 430.6 million barrels in the week ended 23 March.
In the Asian session, at GMT0300, the pair is trading at 64.84, with oil trading 0.08% higher against the USD from yesterday’s close.
The pair is expected to find support at 64.11, and a fall through could take it to the next support level of 63.38. The pair is expected to find its first resistance at 65.99, and a rise through could take it to the next resistance level of 67.14.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
