Crude Oil Price
Posted: Thu May 14, 2015 11:43 am
Wednesdays oil storage report (a 2.1 million bbl draw) is bullish for oil. I now expect oil storage level will continue to fall week after week, at least through June.
There is strong resistance level at $60 for WTI. A few closes above $60 should result in clear path to $70 for WTI.
There is strong resistance level at $60 for WTI. A few closes above $60 should result in clear path to $70 for WTI.