Crude Oil Movement
Oil prices declined 2.14% against the USD for the 24 hour period ending 23:00GMT, closing at 95.94, after the Federal Reserve Chairman, Ben S. Bernanke stated that the Federal Reserve is not planning more bond-buying to stimulate economic growth.
At GMT 0300, Oil is trading at USD 96.16 per barrel in the Asian session, 0.23% higher from 23:00GMT.
The pair has its first resistance at 98.52, followed by the next resistance at 100.87. On the other side, the first support is at 94.17, with the subsequent support at 92.17.
The pair is trading just below its 20 Hr and its 50 Hr moving averages.
