WTI crude rallies as the EIA shows a larger-than-expected fall in inventories.
The price saw solid support in the demand area between the psychological level of 100.00 and the 30-day moving average (103.00). A bullish RSI divergence in this congestion zone suggests a loss of momentum in the retracement.
A follow-up close above 107.00 would prompt sellers to cover, easing short-term pressure in the process. 114.00 is the next resistance and a breakout could lift offers to 129.00. 94.00 is a critical support to keep the rally intact.
