Crude Oil Movement
Oil prices declined 0.60% against the USD for the 24 hour period ending 23:00GMT, closing at 112.80, on signs the US economy is slowing, signaling fuel demand in the world’s biggest crude-consuming nation may falter.
At GMT 0300, Oil is trading at USD 112.47 per barrel in the Asian session, 0.29% lower from 23:00GMT.
The pair has its first resistance at 113.73, followed by the next resistance at 114.99. On the other side, the first support is at 111.45, with the subsequent support at 110.43.
The pair is showing convergence with its 20 Hr and 50 Hr moving averages.
