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

Crude oil prices are trading a tad weaker following the gains from Tuesday.

However, with price now trading above the 38.83 region, we expect the current pullback to form support here.

On the other hand, considering that the 41.00 level was not tested for resistance, we could expect to see some downside weakness in the near term.

Watch for a possible reversal around the 38.83 region. This will put the bias back to the upside.

But a breakout above 41.00 is needed to confirm further gains.

For the moment, we expect oil prices to hold out between the 41.00 and 38.83 levels for the short term.

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

The post WTI Crude Oil Likely to Establish Support Near 38.83 appeared first on Orbex Forex Trading Blog.


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

Tagged on: