WTI Oil is slightly lower on Thursday but holding near fresh 2 ½ year high at $58.13, posted on Wednesday.
Strong bullish sentiment on firm signs of oil markets rebalancing, draws in oil inventories and optimism about OPEC’s output cut extension, keep oil price supported.
Bulls focus psychological $60.00 barrier and could extend towards May 2015 high at $62.71.
Meanwhile, corrective dips on overbought studies are expected to find support above rising 10SMA ($56.52).
Thinner volumes are expected today as US markets are closed for Thanksgiving holiday.
Res: 58.13, 58.63, 59.08, 59.82
Sup: 57.74, 57.02, 56.52, 56.04
