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

WTI Crude oil prices made a strong gain in the early Asian trading session on Monday. Prices, as a result, hit the key level of 40.00.

However, the commodity gave back the gains just as quickly and is down over 2% intraday.

The volatility in crude oil continues and this move could see a possible correction lower.

For the moment, the minor support level at 37.67 might stall the declines.

But in the event of a breakdown lower, we expect oil prices to correct to the 34.42 level.

A lower high will possibly validate this downside bias.

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

The post Crude oil retreats after hitting $40.00 appeared first on Orbex Forex Trading Blog.


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

Tagged on: