WTI Crude Oil Struggles To Clear 43.50

wti crude oil

Oil prices are trading modestly higher but price action still remains below the 43.50 technical resistance.

The downside is also supported as the consolidation in the commodity continues with a slightly bullish bias.

The support level near 42.00 is yet to be tested. The current ranging price action is forming a narrow range between 43.50 and 42.50 regions.

A breakout from either of these levels could see a near term momentum established.

The positioning in the Stochastics oscillator suggests that price action could possibly move lower.

The dynamic support off the trend line should hold for the moment.

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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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