Oil prices were pushing lower into Thursday’s close, but overall, price action was down just 0.02% on the day.
Another attempt to breakout above 28.00 was met with strong selling pressure. This put oil prices to retreat lower.
Further declines could see the 22.00 handle being tested once again. But the current set up could be indicative of a possible rebound, as long as the 22.00 level holds.