Oil continues stellar advance this week, eyes March highs

Technical Analysis

Author: Justin Low | oil

WTI up 1.3% on the day to $66.50 currently

WTI D1 05-05
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Buyers continue to ride the uptrend in oil and this reaffirms the more bullish sentiment in the commodity, as price now eyes the March highs with Brent also closing in on $70.

WTI is up 1.3% to $66.50 and treading water above daily resistance at $66.37 with the March high @ $67.94 one to keep an eye out for as the topside run extends.

The April 2019 high @ $66.58 is also one to watch on the daily as oil buyers look to contest an extended breakout after having consolidated since mid-March.

Adam had a comprehensive overview on where oil prices are heading towards at the end of April and you can check that out here.

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