Technical Analysis

WTI/USD continues to put strong pressure on resistance at 59.25. If the pair can break above this line, the symbolic level of 60.00 will be vulnerable.

On the downside, we have support levels at 58.50 and 57.50. This is followed by the 200-EMA at 57.08 and the 50-EMA at 56.65. The next support level is at 56.50. With crude facing significant support barriers, the trend remains upward