Crude has again started moving in upwards. As far as crude is positioned according to charts its giving a clear sign to move more upwards in coming days.
Now, how far crude could move from current market price of $56? Currently till writing of this article Crude was over the 100 DEMA. This is clear sign of crude moving in North direction from here onwards.
As the levels are concerned, We easily see $58-60 WTI Crude levels in coming days. OPEC Cuts is the reason for this hike. Till something awkward happens for crude – its surely moving in upward direction.
Keeping in mind if something negative has to start with crude – it has to move below $55 level.