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Crude Oil Drifts Lower As Resistance Holds Strong
Posted On 08 Apr 2020
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WTI Crude oil prices are inching lower after the previous session’s gains to the resistance area of 28.00.
Price action is showing some weakness after failing to breakout higher. This comes as the proposed OPEC+ meeting is pushed further down the line.
As a result, we could expect prices to remain steady in a sideways range.
The downside could see a possible retest of the 22.00 handle.