WTI CRUDE OIL

bullish traders are banking on the prospect of extra supply coming to the market soon from Iran fading with talks dragging on over the United States rejoining a nuclear agreement with Tehran. Bearish traders are hoping a U.S. return to the deal would pave the way for the lifting of sanctions on Iran that would allow the OPEC member to resume exports of crude.The main trend is up according to the daily swing chart. A trade through $70.68 will signal a resumption of the uptrend.