Crude Oil Trades Weaker as Trend Line Holds For Now

0 41

WTI Crude oil prices once again dipped back to the major trend line to find support.

Prices are inching closer to the 41 level of resistance which has held up firmly so far. This potentially puts the trend line at risk.

If oil prices break the trend line, we expect a move toward the 34.41 level of support.

Therefore, price action will have to breakout strongly above the 41.00 price region to continue the uptrend.

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Your email address will not be published.