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WTI Flirts With Technical Resistance At 33.66

Posted On 26 May 2020
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wti crude oil

Crude oil prices are trading rather flat with price action failing to post any strong moves.

WTI Crude oil is flirting with the technical resistance level of 33.66.

This follows the price action from last week.

With a lower high forming, there is a possibility for WTI crude oil to push lower.

But, for the moment, we expect some sideways range to continue.

While the upside is capped at 33.66, the support is at the previous pivot lows of 31.72.

A breakout from either of these levels will see further direction forming.

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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