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US Oil higher on optimism over global economies reopening – 26/05/2020

SquaredFinancial

WTI Crude ended yesterday’s session in the green, as it continues to print higher in early trade today on optimism over global economies reopening and on the back of Russia expecting the market to balance in June or July after global cuts exceed the agreed upon OPEC+ coalition cuts. Going forward, upside momentum is looking strong with $34.75 and $35.25 in reach.

Support: 32.70 / 31.50
Resistance: 35.25 / 36.30

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/us-oil-higher-on-optimism-over-global-economies-reopening-26-05-2020
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