Gold Silver Reports (GSR) – US crude oil is trading higher for 5th consecutive days on hopes of trade deal optimism and expectations of extended output cuts by OPEC.
The Us crude oil prices have soared more than 10% in the past one -week and hit intraday high of $58.52 and are currently trading around $58.49.
On the flip side, near term support is around $56.95 and any convincing break below will take the WTI crude to next level till $56.10-19/$55.49.
The near term major resistance is around $58.86 and any violation above will take the oil price further till $60.00. Any major bullish continuation only above $60.00.
