- Crude oil is slowly grinding higher as it was supported at the 66.00 level throughout the day before spiking up.
- The next hurdle to overcome for bulls is 66.85, May 1 key swing low. If the bulls fail to break above this level we might see a consolidation phase in the coming days with supports seen at the 66.00 figure and 65.56 May 31 low.
- The momentum remains bullish as Crude oil WTI is currently supported by the daily 100-period simple moving average.
Spot rate: 66.59
Relative change: 1.17%
Trend: Bullish (needs to break 66.85)
Resistance 1: 66.85 May 1 key swing low
Resistance 2: 67.30 supply level
Resistance 3: 68.30 May 31 high
Support 1: 66.56 May 31 low
Support 2: 66.00 key support
Support 3: 64.12-63.72 demand zone
Support 4: 62.25 March 16 close
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