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wti crude oil

WTI Crude oil prices continue its consolidation with price action on Friday showing a modest pullback off the 42.00 level.

From the current set up, oil prices are likely to see another attempt to trade above the 42.00 level.

However, with no clear direction in place and with the fundamentals also bleak, price action could trade flat.

For the moment, the previous highs near 43.00 will need to be cleared for oil prices to push higher.

To the downside, the support level near 41.00 will likely keep oil prices from falling further.

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