WTI oil holds within tight range on Tuesday, extending choppy and directionless mode into third straight day.
Mixed fundamentals keep the price without clear direction, as expected impact on sanctions on Iran were offset by concerns about demand over US/China trade tensions and US release of strategic oil reserve.
Daily techs remain bearish overall but bears face strong headwinds from rising 200SMA which repeatedly contained downside attempts.
Slightly firmer momentum also reduces downside pressure, but the upside remains limited, with falling 10SMA ($66.15) maintaining pressure.
Initial direction signals could be expected on firm break through 200SMA or 10SMA, but catalyst for such action is required.
Focus turns towards releases of US crude stocks data (API report is due today and EIA on Wednesday) which could generate fresh signals.
Res: 65.39, 66.49, 67.71, 68.35
Sup: 64.68, 63.58, 62.62, 60.00
