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WTI Crude Eyes $61.30 as Demand Recovers – Is a Breakout Near?
By: fxleaders|2025/05/07 15:30:02
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Trade Setup For those looking to get on the trend: Entry: Long above $60.00 targeting $61.30. Stop-Loss: Set stop below 50-hour EMA at $58.60. Take-Profit: Next resistance at $61.30 for a good risk reward. But if WTI fails to break $60.00, a pullback to $58.20 or even the lower channel boundary at $57.70 is possible. Final Thoughts WTI crude oil is up on trade optimism and supply tightening, the next few days should see some volatility as traders react to US-China talks and production cuts. For now, the path of least resistance is up and $61.30 is the next target for bulls.
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