WTI crude oil moves higher, but can it hold the gains?

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WTI Crude oil prices are back on the forefront, rising over 3% intraday.

The gains come on some fundamental bullish news and supports the upside in price action.

At the time of writing, crude oil prices are comfortably trading above the 37.67 level. If this price level turns to support, we expect a move higher. The next main target is at the round number of 40 which held up during the 8th June test of this level.

For the moment, expect oil prices to hold up above 37.67. But if this level breaks, we could see a move back to 34.42 level.



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