EIA inventory data yesterday registered a buildup of 2.396Mb, a day after API data showed a drawdown, securing a 4th consecutive day in the red for WTI Crude on the back of rising inventories for 4 straight weeks. Technically speaking, an hourly close below $63.85 support level should open the door to further downside with $63.35 as the next closest support target.
Support: 63.85 / 63.35 / 63
Resistance: 64.40 / 65
