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US Oil Climbs To 3-Month High

Oil rallies as markets expect delays in the Iran nuclear talks. WTI crude has rallied above the March peak at 67.90. This is an indication that buyers have regained control of the direction.

The bulls have cleared the way to 70.00 even though the path could be choppy due to intraday volatility. The price is inching up along the 30-hour moving average. A high RSI may prevent traders from chasing after the momentum.

Around 66.70 is a key area of congestion after it turned from resistance into support.

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