Crude Oil Stalls Near Four-Week Lows

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WTI crude oil prices slipped slightly lower on Friday before making a modest recovery into the closing session.

While price action remains near a four-week low, the rebound is showing signs of a correction to the declines.

The divergence on the Stochastics oscillator signals a possible move to the upside. But in order for this to be confirmed, oil prices need to rise above 36.51.

A close above this level and forming support here could give further upside in the commodity.

The next main level of interest will be the 38.83 level where resistance will prove to be a challenge.

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