KQMarkets

US Crude WTI - Long Above Key Support Target $60

Long
OANDA:WTICOUSD   West Texas Oil
We are currently long oil and remain bullish above the $55.5 support level and are near term target would be for oil prices to break above the resistance level towards $60. Oil prices have rebounded recently on the back of risk on sentiment and a bounce in stocks however we remain cautious and wouldn't want prices to drop back towards $50.

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