This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

wti crude oil

Oil prices were trading bullish on Thursday, gaining over 2% intraday.

The gains pushed oil toward the 41.00 level before pulling back. Failure to breakout above this level cements the view of the strong resistance here.

We could expect price action to pullback lower as a result. The previous price level near 38.835 will likely be tested for support again.

As long as this level holds, we could see oil prices maintaining a sideways range for the moment.

But a close below the 38.83 region could see further declines coming. The previous lows near 36.51 will be the next target.

Test your strategy on how Oil prices will fare - Open Your Orbex Account Now

The post Crude Oil Flirts with 41.00 Handle appeared first on Orbex Forex Trading Blog.

To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Tagged on: