29 Apr 2015
WTI rallying above $59.00
FXStreet (Edinburgh) - The barrel of the American benchmark for the light crude oil is advancing more than 3% on Wednesday, surpassing the $59.00 handle.
WTI in 2015 highs
The barrel of WTI is now easing some pips after hitting fresh yearly highs in the $59.30 area, deriving support from the beleaguered US dollar and a drop in crude oil supplies in the US.
In its weekly report, the EIA informed that US crude oil inventories increased by 1.9 million barrels to 490.9 million barrels in the week ended on April 24th.
WTI relevant levels
The barrel of WTI is now up 3.40% at $59.06 and a break above $59.33 (high Apr.29) would aim for $59.53 (high Dec.12) and finally $61.34 (high Dec.10). On the downside, the initial support lines up at $56.07 (low Apr.28) ahead of $55.76 (low Apr.23) and then $54.85 (low Apr.20).
WTI in 2015 highs
The barrel of WTI is now easing some pips after hitting fresh yearly highs in the $59.30 area, deriving support from the beleaguered US dollar and a drop in crude oil supplies in the US.
In its weekly report, the EIA informed that US crude oil inventories increased by 1.9 million barrels to 490.9 million barrels in the week ended on April 24th.
WTI relevant levels
The barrel of WTI is now up 3.40% at $59.06 and a break above $59.33 (high Apr.29) would aim for $59.53 (high Dec.12) and finally $61.34 (high Dec.10). On the downside, the initial support lines up at $56.07 (low Apr.28) ahead of $55.76 (low Apr.23) and then $54.85 (low Apr.20).