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Crude Oil Struggles Near Pivot Highs

Mar 27 2020, 08:08 PM (BDT) |

wti crude oil

WTI Crude oil prices are trading weaker, down over 4% on the day.

This comes amid the trend line holding up as dynamic resistance.

If the declines continue, then we expect a move lower back to the 22.00 level of support.

With the lower highs forming, there is a chance that WTI crude oil will converge into a descending triangle pattern. This signals a possible breakdown further below the 22.00 level.

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