Crude Oil Movement
Oil prices declined 0.67% against the USD for the 24 hour period ending 23:00GMT, closing at 84.93.
At GMT 0400, Oil is trading at USD 85.19 per barrel in the Asian session, 0.31% higher from 23:00GMT.
The pair has its first resistance at 86.28, followed by the next resistance at 87.37. On the other side, the first support is at 84.34, with the subsequent support at 83.49.
Investors await the oil inventory report later today and tomorrow, which are expected to provide direction to oil prices.
The pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
