eacemi

CRUDE OIL Retests 66.50, what will be the next target?

FX:USOIL   CFDs on Crude Oil (WTI)
I will keep it simple and short.

I have entered LONG trade from 46.70

And the target was 68.00.

Today we have reached the critical point again.

Crude will retest 66.40-66.60 regions.

Weak USD is helping Crude’s bullish move.

However, rising US production and inventories limit the upside move.

If Crude breaks and makes a few closings above 66.60, 67.18 and 68.00 levels will be the next targets. If fails to break above, 65.60, 64 and 62.50 will be the targets.

DXY             will play an important role in the prices.

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