Crude Oil Movement
Oil prices rose 0.31% against the USD for the 24 hour period ending 23:00GMT, closing at 85.31, on hopes that Federal Reserve Chairman, Ben S. Bernanke would announce more stimulus and as hurricane Irene threatened to shut refineries on the US East Coast.
At GMT 0300, Oil is trading at USD85.11 per barrel in the Asian session, 0.25% lower from 23:00GMT.
The pair has its first resistance at 85.90, followed by the next resistance at 86.69. On the other side, the first support is at 84.62, with the subsequent support at 84.13.
The pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
