Oil prices rose for a second day on Thursday, buoyed by expectations that demand in the U.S., the world’s biggest oil consumer, will improve as refineries try to return to service after outages and as the dollar weakened.
Brent crude futures rose 34 cents, or 0.4%, to $83.37 a barrel at 0740 GMT. U.S. West Texas Intermediate crude futures climbed 37 cents, or 0.5%, to $78.28 a barrel.
CURRENTLY MOVING ON UP TREND
Expecting correction up to 77.75
Today’s important levels for trading are 76.78, 77.36, 78.48 and 79.06
Trading idea for today: Buy On Dip
Trade setup: Pullback Buy around@77.75, Deeper Buy around@77.25
Safe swing sell below 76.70,
Safe swing buy above 78.70