Crude Oil Movement
Oil prices declined 1.71% against the USD for the 24 hour period ending 23:00GMT, closing at 102.61, amid fall in the US stocks, strengthening dollar and trade deficit in China, raising concerns of a downfall in the energy demand.
At GMT 0400, Oil is trading at USD 102.59 per barrel in the Asian session, 0.02% lower from 23:00GMT.
The pair has its first resistance at 104.64, followed by the next resistance at 106.68. On the other side, the first support is at 100.97, with the subsequent support at 99.34.
The pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
