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WTI Crude Oil Rebounds Off 25.00 Technical Support

Posted On 08 May 2020
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The bullish price action in crude oil continues following a dip back to the price level of 25.00.

However, following this minor pullback, WTI crude oil prices are rising higher once again.

If prices do not post any meaningful highs above 25.00, we could expect to see a retracement.

This would mean that the 25.00 level will be the price of interest.

A close below this level will signal a move lower to the 17.80 level which will be the most likely price level for support to form.

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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