Crude Oil WTIUSD Chart Technical Outlook trades higher on demand outlook, bull’s eye $83
US Oil builds a bullish wave, printing higher highs and higher lows. Prices broke above a previous swing high of $80.50. The broken level was tested and held steady. The summer demand outlook supports the upward direction. The Caixin Manufacturing PMI from China printed a better-than-expected outcome in June, helping bulls to push prices higher.
There is scope for further gains towards $83. The following barrier is at $84.40. Supports are located at $80.50 and $79.25.
