WTI Crude oil prices are trading in the green after prices nearly closed flat on Wednesday.
However, the current recovery is still below Wednesday’s highs. A breakout above 38.15 will potentially validate further gains in the commodity.
At the current pace, oil prices are on track to hit the key level of $40 a barrel.
Following this, the next main price point is at 42.00 which held up as support months before.
Thus, a retest of this level could see resistance forming if there is a failure to breakout higher.
To the downside, the price level of 33.66 will be key to stall the commodity from further declines.