WTI Maintains Strong Gains For A Second Day

wti

WTI crude oil prices are rising higher for a second day. Prices rose over 16% into Friday’s close, led by the optimism of an OPEC supply cut.

At the time of writing, WTI crude oil prices are trading near the resistance level of 28.00.

If this level cannot be cleared, we expect prices to drift back into range.

However, the floor at 22.00 looks to be solidly in place for the moment. This will mean that oil prices have likely formed a bottom.

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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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