Oil Price - May 31

[dan_s]

I have been harping on the reason that WTI breaking through resistance at $67/bbl was a big deal and sets the stage for a solid move into the mid-$70's. Read this to learn why:
https://www.investing.com/analysis/char ... -200320777

As I write this post, it appears that WTI buyers are coming in each time WTI dips near $67. That is a very good sign, telling us that the upward channel is still in place.

EIA's weekly report gets a lot of attention, but regardless of the small build or draw from storage that EIA reports the fact is that we are now in the HIGH DEMAND period of the year for transportation fuels. Plus U.S. stocks of crude oil, gasoline, diesel and jet fuel are all well below 30 days of supply.

[dan_s]

Another technical analyst: https://www.investing.com/analysis/a-bo ... -200320816