For the 24 hours to 23:00 GMT, Crude Oil rose 0.30% against the USD and closed at USD33.96 per barrel, amid production cuts by major oil producer and as fuel demand recovered with easing of coronavirus restrictions.
In the Asian session, at GMT0300, the pair is trading at 34.03, with oil trading 0.21% higher against the USD from yesterday’s close.
The pair is expected to find support at 33.34, and a fall through could take it to the next support level of 32.64. The pair is expected to find its first resistance at 34.77, and a rise through could take it to the next resistance level of 35.50.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.
