For the 24 hours to 23:00 GMT, Crude Oil rose 0.40% against the USD and closed at USD35.41 per barrel.

In the Asian session, at GMT0300, the pair is trading at 35.47, with oil trading 0.17% higher against the USD from yesterday’s close, Organisation of the Petroleum Exporting Countries (OPEC) meeting later this week to discuss whether to extend production cuts beyond end-June.

The pair is expected to find support at 34.58, and a fall through could take it to the next support level of 33.68. The pair is expected to find its first resistance at 36.06, and a rise through could take it to the next resistance level of 36.64.

- advertisement -

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

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.