For the 24 hours to 23:00 GMT, Crude Oil declined 0.36% against the USD and closed at USD68.71 per barrel, amid worries over demand outlook pressured by US sanctions on Iranian oil and mounting US-China trade tensions.
In the Asian session, at GMT0300, the pair is trading at 68.58, with oil trading 0.19% lower against the USD from yesterday’s close.
The pair is expected to find support at 68.17, and a fall through could take it to the next support level of 67.75. The pair is expected to find its first resistance at 69.36, and a rise through could take it to the next resistance level of 70.13.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.