- Crude oil is jumping 3.32% this Tuesday as bulls are eying the 2018 at $72.83 a barrel. Oil buyers kept the bullish momentum throughout the US session suggesting a strong momentum.
- The next resistance is likely seen near the 70.53, May 24 low and 71.19, May 23 low.
- A pullback would likely find support near 69.44 current Monday’s high and the 69.00 figure.
Spot rate: 70.43
Relative change: 3.32%
High: 70.61
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