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Oil is testing 66,6$

Olymp Trade

Brent crude oil continues to strengthen. Bulls are trying to gain a foothold above the level of $66.6, which was already tested at the end of last week.
In the short term, a correction can be expected as oscillators show class 2 divergence in the current zone. Also, on Christmas eve, traders should not expect the necessary volatility for strong price movements.

However, if the bulls break through this level, the next resistance level is much further up at the level of $67.3.
This was the local maximum of July and also near this mark the trading session was opened on the Monday following the explosions at oil facilities in Saudi Arabia in mid-September.

The EIA will unveil crude oil inventories in the United States on Friday. According to a preliminary Reuters poll, inventories fell by 1.8 million barrels last week. If this is the case, it will be the second consecutive week of decline.

Source: https://olymptrade.com/
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