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Geopolitical worry has underpinned the space....>

OIL
OIL: Geopolitical worry has underpinned the space in recent sessions. WTI added
$0.35 to trade at $67.10, while Brent added $0.25 to trade at $72.35.
- Trump's threat to launch missiles at Syria & Saudi intercepting Yemeni based
missile over Riyadh boosted crude prices, despite a build in headline crude
stocks & uptick in US production in the latest DoE inventory release.
- WTI has experienced aggressive rallies resulting in fresh 2018 & 3+year highs
with bulls now targeting the daily bull channel top ($69.04). Daily studies are
perfectly placed for a fresh leg higher but the Bollinger band top ($67.25) is a
concern to their cause. Bears now look for a close below yesterday's low
($65.09) to gain breathing room and below the 21-DMA ($63.92) to shift focus
back to $61.12-81 where the 100-DMA is noted.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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