WTI visited high grounds

3 Jun 2021

The American oil benchmark was able to visit higher grounds, testing the 69.37 handle, a level that hasn't been seen in 2 years.

However, sellers have shown some control in the daily candles forming a bearish pin bar right after the visit. Let's pay attention to EIA inventory report in about 3 hrs.

In case of a correction, the handle about 66.30 shows some strong resistance with 382 Fib and ascending trendline in confluence.