Crude oil prices climb above the previous month high on Wednesday supported the successful COVID-19 vaccine rollout in the US and UK and more stimulus measures could aid economic recovery which will boost oil demand in the near future. On the negative side, investors continued to monitor a deepening COVID-19 crisis in India, Japan, and Canada.
Technically the overall momentum remained bullish for the US crude oil prices throughout this week. In the short term if the bullish momentum continues the next upside levels to watch $67 and $67.70. On the flip side, the first immediate support can be found at $65.30 and then $64.60.
https://www.linkedin.com/in/syam-kp-4b248746/