Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 2.93% against the USD and closed at USD63.01 per barrel, pressured by a rise in Russian crude production.
In the Asian session, at GMT0300, the pair is trading at 63.18, with oil trading 0.27% higher against the USD from yesterday’s close.
The pair is expected to find support at 62.18, and a fall through could take it to the next support level of 61.18. The pair is expected to find its first resistance at 64.8, and a rise through could take it to the next resistance level of 66.42.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
