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WTI oil rises on geo tension, ready for breakout to 100?

ActionForex
By ActionForex

WTI crude oil edged higher today and it’s now pressing 95.98 resistance. Any deterioration in geopolitical situation could forcefully push WTI through this resistance to resume the medium term up trend. Next target will be 100 psychological level.

Rejection by 95.98 will extend the corrective pattern from 95.98 with another falling leg, possibly back to 89.23 support. But 88.66 support should provide the floor in this case, to set up the range for sideway trading.

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