WTI Crude Oil Hovers Below 22.00

Oil prices are trading slightly higher with prices rising modestly, by 1.50% intraday. However, prices remain strongly below the 22.00 handle meaning that there is still a downside risk.

For the moment, price action is caught in the range of 22.00 and 19.25. A breakout from these levels could be expected.

The Stochastics oscillator points to a possible hidden divergence which confirms with the downside bias.

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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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