For the 24 hours to 23:00 GMT, Crude Oil declined 0.99% against the USD and closed at USD63.71 per barrel, amid ongoing uncertainty over global crude supply.

Meanwhile, the Energy Information Administration (EIA) report indicated that US crude oil stockpiles fell by 1.4 million barrels in the week ended 12 April 2019, recording its first drop in 4 weeks.

In the Asian session, at GMT0300, the pair is trading at 63.7, with oil trading a tad lower against the USD from yesterday’s close.

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The pair is expected to find support at 63.32, and a fall through could take it to the next support level of 62.93. The pair is expected to find its first resistance at 64.35, and a rise through could take it to the next resistance level of 64.99.

Crude oil is trading below its 20 Hr and 50 Hr moving averages.


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