Crude Oil Movement
Oil prices declined 0.15% against the USD for the 24 hour period ending 23:00GMT, closing at 113.02, amid news that Al-Qaeda leader Osama bin Laden was killed in Pakistan and after data indicated that manufacturing in the US cooled in April.
At GMT 0300, Oil is trading at USD 112.85 per barrel in the Asian session, 0.15% lower from 23:00GMT.
The pair has its first resistance at 114.83, followed by the next resistance at 116.82. On the other side, the first support is at 110.85, with the subsequent support at 108.86.
The pair is showing convergence with its 20 Hr and 50 Hr moving averages.
