Oil rises as falling EIA crude stockpiles point to tighter supply.
After a brief consolidation, the break above 73.00 suggests that the bulls are still in control of price action. Sentiment remains bullish as long as the price stays above the rising trendline. 75.00 would be the next target as momentum traders push up volatility.
The RSI has retreated into the neutral zone. Between 71.10 and 72.00 lies a key demand zone where trend followers are likely to leave a bid.
