Has WTI Crude Oil Hit A Bottom?

March 23, 2020

By Orbex

Crude oil prices fell over 6% into Friday’s close following a brief rally to the 28.00 handle which previously marked a bottom.

Following the declines down to the 22.00 handle, price action is close to this level.

A break down below 22 could see WTI crude oil pushing through into new lows.

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The minor trend line will be key as a breakout to the upside could suggest a short term correction.

By Orbex