Crude Oil Drifts Lower As Resistance Holds Strong

wti crude oil

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.

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“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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