WTI Crude Oil XTIUSD Chart Technical Outlook trades north toward $72.50
Oil prices had found support close to the previous year’s low and bounced higher. The ongoing geopolitical risks, monetary easing around the globe boosting demand, and fresh Chinese stimulus trying to stimulate the economy are bullish factors. Prices trade inside a bullish channel, and more upside price action is expected. Resistances are located at $71.70 and $72.50. Supports are found at $69.40 and $68.60.
