Oil prices attempt to recover a spate of losses linked to the worsening global economic outlook. However, prices have edged higher as China ramps up support
However, recent action from Chinese officials suggests a step up in urgency to right the ship, with the most recent decision to replace the head of the securities regulator seeing early gains in Chinese indices early in the Asian session.
Brent crude tests the 200-day simple moving average before the $82 mark and potentially even $83.50 but a strongermay begin to weigh on upside potential, especially is incoming US fundamental data continues to outperform. Support appears at $77.
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