Crude Oil Movement
Oil prices declined 1.95% against the USD for the 24 hour period ending 23:00GMT, closing at 96.88, as investors continued to doubt the global economic recovery, raising speculation that fuel demand may falter.
At GMT 0300, Oil is trading at USD 97.20 per barrel in the Asian session, 0.33% higher from 23:00GMT.
The pair has its first resistance at 98.95, followed by the next resistance at 100.71. On the other side, the first support is at 95.79, with the subsequent support at 94.39.
The pair is trading below its 20 Hr and its 50 Hr moving averages.
