USOIL chart - Trading View
WTI hits fresh multi-month highs above $71.00 mark before paring some gains to trade $71.59 at around 12:45 GMT.
Oil prices are on a bull run for the 3rd straight month. Price action has broken above 200-month MA, raising scope for further upside.
Technical indicators are strongly bullish. Momentum with the bulls and volatility is high, scope for further gains.
Oil traders await American Petroleum Institute’s (API) weekly crude stockpiles data for fresh near-term trading opportunities in the commodity.
Oil prices largely ignore comments from Glencore. Head of Oil at Glencore, Anglo-Swiss multinational commodity trading and mining company said that the return of Iranian oil to markets already priced in.
Break above 200-month MA has buoyed bulls. Scope for test of 2018 highs at $76.88. Bullish invalidation only on retrace below 200-month MA.


FxWirePro: USD/ZAR bears maintain upper hand
FxWirePro: USD/ZAR shows upside momentum, but bearish outlook remains
FxWirePro: GBP/NZD gains some ground but outlook is bearish
FxWirePro: USD/JPY nears 160 as intervention risk intensifies
FxWirePro USD/CAD steadies around 1.3910,retains bid tone
FxWirePro: AUD/USD edges lower as risk appetite sours on Geopolitical woe
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/AUD holds narrow range, focus on near-term support
FxWirePro: GBP/AUD regains upwards momentum but unable to hold above 38.2% fib
FxWirePro: GBP/USD falls to two-day low, scope for further downside
FxWirePro- Woodies pivot (Major)
AUDJPY Extends Five-Day Rampage to Near 115 as Yen Crumbles; Bulls Target 116–117
FxWirePro- Major Pair levels and bias summary
Kiwi-Yen Bulls Reload at 93: EMA Support Stack Points to 96–97 Targets
FxWirePro: GBP/NZD stuck in narrow range , outlook bearish 



