Crude Oil Movement
Oil prices rose 5.11% against the USD for the 24 hour period ending 23:00GMT, closing at 85.54, as a surprise drop in US jobless claims eased concern that the US economy is slowing.
At GMT 0300, Oil is trading at USD85.05 per barrel in the Asian session, 0.57% lower from 23:00GMT.
The pair has its first resistance at 87.00, followed by the next resistance at 88.95. On the other side, the first support is at 82.07, with the subsequent support at 79.09.
The pair is trading well above its 20 Hr and 50 Hr moving averages.
