WTI oil reaches to the 72.00 level

WTI oil accelerates its bullish momentum after Donald Trump announced that it will pull out of the nuclear agreement with Iran. During yesterday’s session the price of WTI oil was very volatile, first it dropped to the 67.62 level but then towards the end of the session, the prices go back up and break above the 70.00 level. Today’s rally continues above the 70.00 level and WTI oil may reach the 72.00 level where it may find a resistance. Above the 72.00 level, there are no clear resistances until the 77.13 level where we can find the 200 month EMA. To the downside, below the 70.00 level, its next support could be the 67.62 level, but a better support area could be the 66.00 level where the 55 day EMA is getting close to.