Forex Brokers Award 2021
Vote your favourite broker

WTI Crude Oil Struggles To Clear 43.50

Sep 2 2020, 08:39 PM (BDT) |

wti crude oil

Oil prices are trading modestly higher but price action still remains below the 43.50 technical resistance.

The downside is also supported as the consolidation in the commodity continues with a slightly bullish bias.

The support level near 42.00 is yet to be tested. The current ranging price action is forming a narrow range between 43.50 and 42.50 regions.

A breakout from either of these levels could see a near term momentum established.

The positioning in the Stochastics oscillator suggests that price action could possibly move lower.

The dynamic support off the trend line should hold for the moment.

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