Oil Price - June 28

[dan_s]

WTI opened at $72.28, reached a high of $74.00 and closed at $73.28, up $0.53/bbl from yesterday's close.

Equity prices were mixed with investors having a lot of information to digest and fund managers taking profits ahead of the end of Q2 and with a national holiday week ahead.

IMO a few closes over $72.50 should set the stage for a test of the strong resistance level just under $75.00/bbl.

We are probable at the "Right Price" for WTI now, but oil never stays at the Right Price for long.