WTI crude oil rises to six-week high

Technical Analysis

Author: Adam Button | oil

The rebound in oil continues

Signs of progress in US-China trade talks have boosted optimism about global growth and that's given oil a lift.

WTI crude oil is up $1.60 today to $53.63, which is the best level since December 7.

The rally today also clears the 55-dma for the first time since mid-October. To really get things moving, crude will need to rise above the December high of $54.55.

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