For the first time in more than a year, WTI Crude Oil breaks above 100.70 level, recording fresh highs at 102.14, extending the bullish wave that started from April. Accordingly, we maintain our bullish scenario as the bullish momentum is very strong.
Support: 100.70, 99.75, 99.20, 98.90, 98.00
Resistance: 101.70, 102.50, 103.20, 103.75, 104.30
Recommendation Based on the charts and explanations above, we prefer to long oil above 100.50 targeting 101.70 and 102.50. Stop loss below 99.70