WTI Crude Oil Pauses As Bias Remains Bullish

Crude oil prices continue to trade higher. But prices are easing back after WTI crude oil rose to a two-month high in the previous session.

The minor pullback could potentially see the bullish momentum pushing prices higher.

The main resistance level at 33.66 remains within reach. But expect the gains to stall near this level in the near term.

Unless WTI crude oil breaks out above the 33.66 convincingly, we expect some consolidation to take place.

The downside for the moment is at the 27.95 level, but we could expect a reversal with a higher low forming above the 27.95 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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