Can WTI crude oil rally higher?

0 109

Oil prices have posted a remarkable rebound.

Friday’s price action saw WTI crude oil posting modest gains, rising above the 17.80 handle.

This qualifies the double bottom pattern near the 10.58 level.

As long as prices remain above the 17.80 level, we expect oil prices to continue to drift higher.

The next target is at 25.00 on a bullish follow-through.

But watch for a potential bullish trap in case crude oil slips back below the 17.80 level if it fails as support.

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

START TRADING

or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

Leave A Reply

Your email address will not be published.