WTI Crude Oil Rebounds Off 25.00 Technical Support

May 8, 2020

By Orbex

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.

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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.

By Orbex