WTI trading at $96.19/bbl

FXstreet.com (Barcelona) - Crude oil prices regained ground after the reversal from a high of 96.90, which had found support at 95.00. According to Slobodan Drvenica, an analyst at Windsor Brokers Ltd., “A subsequent bounce above 96.00, brought near-term bulls, sidelined by recent reversal, back to play. With higher low left at 95.74 and near-term studies holding positive tone, we see scope for break above hourly triangle resistance at 96.48, for retest of yesterday’s peak at 96.66, a clearance of which is required to re-focus 96.90, 23 January fresh high.”

Moreover, “Hourly bullish EMA’s crossover and triangle support at 95.90, underpin the action, while only slide below 95.74 would weaken near-term structure.” he adds. At the time of writing, WTI crude has settled in the region of USD $96.19 Friday.