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Has WTI Crude Oil Hit A Bottom?

Posted On 23 Mar 2020
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WTI

Crude oil prices fell over 6% into Friday’s close following a brief rally to the 28.00 handle which previously marked a bottom.

Following the declines down to the 22.00 handle, price action is close to this level.

A break down below 22 could see WTI crude oil pushing through into new lows.

The minor trend line will be key as a breakout to the upside could suggest a short term correction.

About the Author
“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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