WTIC Crude is showing signs of strong momentum on Friday it is up by 4% during the U.S session. Since 22nd Nov 2018 crude is trading in a consolidation band of 50-54 range with couple of times testing the psychological reference zone 50 levels. And now price is trading in the upper end of the consolidation with stronger momentum which indicates potential higher prices in the shorter term.
Short term trading sentiment continues to be on the positive side. Immediate supports comes around 51.5 levels and short term it has the potential to approach 57-58 levels. Price spending more time below 51.5 levels invalidate the current momentum.
