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WTI bears looking for a test of the 4-hour support

From fxstreet.com

WTI gained overnight as easing restrictions in the US and Europe raise hope of stronger demand. WTI was entering the early Asian session some 1.61% higher having travelled from a low of $62.94 to a high of $64.65. Asia moves along, in holiday thin markets, the bulls are staying in control having climbed from a low of $64.45 to a high of $64.70 so far. Oil stays bid on the optimism which has been brewing for a strong rebound in fuel demand in developed countries. China is also expected to show a far better second half of the year which has overshadowed growing concerns of a full lockdown in India to curb the COVID-19 ... (full story)

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  • Category: Technical Analysis