Crude Oil Movement
Oil prices advanced 1.12% against the USD for the 24 hour period ending 23:00GMT, closing at 108.54, as the dollar fell and events in Libya caused fears over supply.
At GMT 0300, Oil is trading at USD 108.15 per barrel in the Asian session, 0.36% lower from 23:00GMT.
The pair has its first resistance at 109.35, followed by the next resistance at 110.54. On the other side, the first support is at 106.36, with the subsequent support at 104.56.
The pair is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.
