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Oil Prices Back To The 42.00 Handle

Posted On 03 Sep 2020
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wti crude oil

WTI Crude oil prices made modest attempts to rise intraday. However, the gains were erased quickly.

Price action turned bearish into the mid-US trading session. Oil prices fell to the 42.00 handle. Just a few weeks ago this is the level that was briefly tested for support.

The current gains come as oil prices failed to break out of the 43.50 ceiling.

For the moment, prices are trading well below the 42.00 handle.

However, if oil prices do not recover, we could see another sideways range form within the 42.00 and the 41.00 handle.

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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