Oil prices rose after the US secretary of state said sanctions on Tehran may not be lifted. WTI crude gained momentum after it closed above the March peak and psychological level at 68.00. Following a brief sideways action, 68.50 has established itself as key support.
A short-term pullback has allowed the RSI to become neutral again. 70.60 is the closest resistance.
The 20-hour moving average would cross above the 30-hour one when the rally picks up steam again. Then 72.40 would be the next target.
