WTI hit our resistance target now support level at $36.50 pbl as it continues to print higher in early trade today after American Petroleum Institute weekly stockpiles data showed a surprise drawdown in inventories and optimism surrounding Thursday’s OPEC+ meeting lifted prices higher. EIA inventory data to be released today could provide further bullish momentum with $38 and $40 as closest resistance targets, while keeping a lookout for RSI overbought readings.
Support: 36.50 / 35.25
Resistance: 38 / 40
