WTI ends yesterday’s session higher, bouncing off our support level at 37.20, on the back of a surprise upbeat in Durable Goods Orders and assurances by White House Economic Advisor Larry Kudlow that the U.S. was not going to shut the economy down. With prices supported from below by the 20,50 and 200 period SMA, an hourly close above 39.27 resistance level will favor further upside with 40 as the next resistance target.
Support: 37.50 / 37.20
Resistance: 39.27 / 40
