For the 24 hours to 23:00 GMT, Crude Oil declined 0.89% against the USD and closed at USD68.93 per barrel on Friday, after Baker Hughes reported that the number of active oil rigs rose by 3 to 861 in the week ended 27 July 2018.
In the Asian session, at GMT0300, the pair is trading at 68.81, with oil trading 0.17% lower against the USD from Friday’s close.
The pair is expected to find support at 68.12, and a fall through could take it to the next support level of 67.44. The pair is expected to find its first resistance at 69.63, and a rise through could take it to the next resistance level of 70.46.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
