Crude Futures Higher

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May Crude Oil futures are trading higher by $1.18 at $39.48 in Wednesday's session. It has erased all of its losses from Tuesday and came within striking distance of the psychological level of $40, with the current high resting at $39.85. After a higher open in the after-hours session, it retreated only $0.07 to $38.45 before resuming its move higher. If the rally continues into the $40 handle, the next resistance level based on the daily charts comes in at Monday's high ($40.14).
Posted In: TechnicalsIntraday UpdateMoversTrading Ideas
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