Crude oil looks to recover lost ground

WTI crude oil is attempting to pare losses from the earlier sessions this week.

Following the decline to the 37.67 level, oil prices are rising steadily.

However, we have a range established between 40.00 and 37.67.

Only a breakout from this range will determine the next leg in the direction of the trend. The bias remains mixed at the moment.

However, considering that oil prices haven’t yet made any major correction in the recent past, this is quite a possibility.