- Oil is surging higher 3.4% this Tuesday as WTI broke last week’s high and is now en route towards the 2018 high.
- The bull momentum is strong and the next resistance is likely located near the 70.53, May 24 low and 71.19, May 23 low.
- A pullback would likely be supported near 69.44 current Monday’s high and the 69.00 figure.
Spot rate: 70.48
Relative change: 3.4%
High: 70.55
Low: 67.70
Trend: Bullish
Resistance 1: 70.53 May 24 low
Resistance 2: 71.19 May 23 low
Resistance 3: 72.00 figure
Support 1: 69.44 current Monday’s high
Support 2: 69.00 figure
Support 3: 68.30 May 31 high