The general enthusiastic scenario is supportive of oil prices, which started the new week still in green. Markets are still in full risk-on mode with investors betting on a vaccine and with it, a relatively quick solution to the pandemic and this optimism is boosting oil. Sectors previously left behind such as energy, are now enjoying time in the limelight and this is pulling up the price of both WTI and Brent.
From a technical point of view, WTI is again facing resistance at $41.50. A clear breakout above this level could open space for a rebound to the peak of early September around $43.20-$43.50.
