Oil Prices Retesting Technical Resistance Once Again

0 39

WTI Crude oil prices are back near the technical resistance level once again.

This comes amid price action remaining caught within the trend line and the horizontal resistance level.

Price action needs to breakout higher above this technical level. A strong close above will signal a further upside in price action.

However, prices are still not out of the woods. In the event that prices fail to break out, then this potentially opens the downside which could lead to a sharper correction lower.

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


or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

Leave A Reply

Your email address will not be published.