Crude Oil Movement
Oil prices advanced 0.04% against the USD for the 24 hour period ending 23:00GMT, closing at 108.33, as unrest in the Middle East and North Africa kept investors worried over the supply concerns.
At GMT 0300, Oil is trading at USD 108.28 per barrel in the Asian session, 0.05% lower from 23:00GMT.
The pair has its first resistance at 108.86, followed by the next resistance at 109.44. On the other side, the first support is at 107.64, with the subsequent support at 107.00.
Crude oil price is showing convergence with 20 Hr moving average and is trading just above its 50 Hr moving average.
