ad
Forex Brokers Award 2021
Vote your favourite broker

Oil Prices Slip Below $33.66 Once Again

May 29 2020, 07:16 PM (BDT) | Orbex.com

wti crude oil

WTI Crude oil prices are finding it difficult to break past the 33.66 level.

After briefly trading above this level, oil prices are back below this handle once again.

But as a result, a soft double bottom pattern is forming near 31.72. This puts the upside bias toward a target of 37.00.

Given that oil prices remain vulnerable to the fundamentals, there is potential that prices could pullback lower.

Furthermore, prices have failed to establish any lower support which also adds to this view.

Therefore, if oil fails to breakout above 33.66, then we could see the downside risks building up.

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