Crude Oil Movement
Oil prices advanced 1.00% against the USD, on Friday, for the 24 hour period ending 23:00GMT, closing at 87.21, amid better than expected US jobs data.
At GMT 0300, Oil is trading at USD83.94 per barrel in the Asian session, 3.75% lower from 23:00GMT, after Standard & Poor’s slashed the “AAA” credit rating of the US, stoking fears of a double-dip recession in the world’s largest economy.
The pair has its first resistance at 87.19, followed by the next resistance at 90.45. On the other side, the first support is at 81.80, with the subsequent support at 79.67.
The pair is trading below its 20 Hr and its 50 Hr moving averages.
