WTI: Weekly Forecast 20210613

WTI continued to edge higher as inflation continued to stay persistently high.

At the same time, the price is breaking away from a rising channel and closed higher on the last trading day as well.

This week, we will continue to look for buying opportunities by waiting for a pullback towards 70, bottom of a minor rising channel, followed by the demand zone around 68.5.

We continue to see oil prices climbing towards the major equilibrium level at 76.