WTI's fundamental and technical setup looks very strong. Tuesday's surge helped oil's triangular wedge to resolve to the upside, which could signal more gains ahead. On the fundamentals side, API said U.S. crude inventories unexpectedly fell last week, boosting the likelihood Wednesday's EIA report will be bullish. Oil's outlook is also improving as Middle East tensions grow amid signs Trump will withdraw from the Iran nuclear deal and reimpose sanctions after meeting Saudi Crown Prince bin Salman during his visit to the U.S.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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