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 managed to break out of the 42.00 ceiling on late Monday. However, following a brief rally above the 42.00 level, the commodity is seen pulling back.

We expect the 42.00 price level to be tested once again. There is also a possibility for WTI crude oil prices to consolidate back inside the range.

However, the upside breakout above 42.00 could suggest further gains. But a lot will depend on the fundamentals which need to be supportive of oil prices.

Following the recent high above 43.00, we expect this level to be tested in the short term.

The main target remains the 50.00 price level next.

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

The post Will Oil Prices Push Higher? appeared first on Orbex Forex Trading Blog.


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

Tagged on: