Crude Oil Movement
Oil prices declined 1.48% against the USD, on Friday, for the 24 hour period ending 23:00GMT, closing at 87.97, amid concerns that the European leaders have not taken sufficient steps to control the region’s debt crisis.
At GMT 0300, Oil is trading at USD 86.80 per barrel in the Asian session, 1.33% lower from Friday’s close.
The pair has its first resistance at 88.82, followed by the next resistance at 90.83. On the other side, the first support is at 85.75, with the subsequent support at 84.69.
The pair is trading below its 20 Hr and 50 Hr moving averages.
