Crude Oil Prices Attempt To Recover Gains

wti crude oil

WTI Crude oil prices are trading in the green after prices nearly closed flat on Wednesday.

However, the current recovery is still below Wednesday’s highs. A breakout above 38.15 will potentially validate further gains in the commodity.

At the current pace, oil prices are on track to hit the key level of $40 a barrel.

Following this, the next main price point is at 42.00 which held up as support months before.

Thus, a retest of this level could see resistance forming if there is a failure to breakout higher.

To the downside, the price level of 33.66 will be key to stall the commodity from further declines.

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