Crude Oil Movement
Oil prices declined 6.33% against the USD for the 24 hour period ending 23:00GMT, closing at 86.35, amid concerns over US economic recovery and European debt crisis. A strong dollar also weighed down the oil prices.
At GMT 0300, Oil is trading at USD 86.10 per barrel in the Asian session, 0.29% lower from 23:00GMT.
The pair has its first resistance at 90.52, followed by the next resistance at 94.95. On the other side, the first support is at 83.44, with the subsequent support at 80.79.
The pair is trading below its 20 Hr and its 50 Hr moving averages.
