ad
Forex Brokers Award 2021
Vote your favourite broker

Crude Oil Slips Below Technical Resistance

May 25 2020, 02:10 PM (BDT) | Orbex.com

WTI crude oil prices were a tad weaker on Friday.

The commodity fell below the 33.66 level which has played a key role so far. If oil prices fail to settle above this level in the coming days, we could expect to see some corrections.

This will most likely occur amid profit-taking and the strong rally in crude oil which has not seen any pullbacks.

The key support level to the downside is 27.95. However, this can only be confirmed if oil prices can close below the current higher lows at 30.72.

To the upside, there is still scope for a rally, but prices will have to break out convincingly above 33.66 to confirm this view.

Orbex.com

At Orbex, the client is at the heart of everything we do and everything we do is designed to guarantee your satisfaction. Here’s how Forex Trading with Orbex will enhance your trading experience: Best-in-class customer service, including live chat and free webcall One-hour response time for sales and support requests Multiple asset trading and ECN accounts on MT4 0.9 pip fixed spread at ZERO commission Up to 1:500 leverage
ad