Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.18% against the USD and closed at USD66.86 per barrel, on reports that OPEC and Russia are considering increasing crude production by 1.0 million barrels per day.
In the Asian session, at GMT0300, the pair is trading at 66.49, with oil trading 0.55% lower against the USD from yesterday’s close.
The pair is expected to find support at 65.82, and a fall through could take it to the next support level of 65.16. The pair is expected to find its first resistance at 67.25, and a rise through could take it to the next resistance level of 68.02.
Crude oil is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
